This Council Implementing Regulation amends the EU’s restrictive measures against Syria following the fall of al-Assad’s regime. The act suspends certain sanctions and removes six Syrian financial and aviation entities from the sanctions list, while maintaining asset freeze for the Central Bank of Syria.
The structure of the act is typical for EU implementing regulations, consisting of a preamble with 6 recitals explaining the context and reasons, two operative articles, and two annexes. The first annex lists the entities being removed from sanctions, while the second annex establishes a new list with the Central Bank of Syria remaining under asset freeze.
The main provisions include:
– Removal of five Syrian banks (Industrial Bank, Popular Credit Bank, Saving Bank, Agricultural Cooperative Bank, Central Bank of Syria) and Syrian Arab Airlines from the sanctions list
– Creation of a new Annex IIb containing only the Central Bank of Syria with frozen assets
– The changes aim to support Syria’s transition, humanitarian aid delivery, economic recovery, reconstruction and stabilization
– The regulation facilitates the return of Syrian nationals with their belongings
– The act maintains certain restrictions while encouraging inclusive political transition in line with UN Security Council Resolution 2254
: This act has implications for Syrian nationals, including those who may be in Ukraine, regarding their potential return to Syria and transfer of belongings. It also affects business relations between EU entities and Syrian financial institutions.
