US starts to lift sanctions on Syria

LOS ANGELES - The United States took initial steps on Friday to ease sanctions on Syria, following President Donald Trump's pledge to do so during his Middle East trip.

The US Department of the Treasury's Office of Foreign Assets Control (OFAC) issued a document, known as GL 25, to ease financial restrictions on Syria.

GL 25 will enable new investment and private sector activity in Syria, according to a statement of the department. The authorization was designed to "help rebuild Syria's economy, financial sector and infrastructure, in line with US foreign policy interests."

The new policy could bring new investment, the provision of financial and other services to Syria, and permit transactions related to Syrian-origin petroleum or petroleum products, the department said, adding it had permitted US financial institutions to maintain correspondent accounts for the Commercial Bank of Syria.

However, the department noted the sanctions relief could only be extended on the condition that Syrian leaders would not offer a safe haven for terrorist organizations and would ensure the security of its religious and ethnic minorities.

Also on Friday, US Secretary of State Marco Rubio issued a 180-day waiver under the Caesar Syria Civilian Protection Act to facilitate investments and ensure the provision of essential services like electricity and water.

Following the onset of the Syrian civil war in 2011, the United States, along with several other Western countries, imposed stringent sanctions targeting key sectors of the Syrian economy.

In remarks to an investment forum in Riyadh, Saudi Arabia, on May 13, Trump announced that he plans to lift sanctions on Syria.