LONDON: President Donald Trump has promised to eliminate sanctions on Syria, marking a significant change in US foreign policy. This move has cautiously raised hopes among Syrian businesspeople hoping to resume their business after years of isolation and conflict.
A high-profile meeting between Trump and Syria’s interim president, Ahmed Al-Sharaa, in Riyadh on May 14, before a larger summit of Gulf leaders on Trump’s regional trip, which swiftly followed the announcement and indicated a renewed focus on diplomatic engagement with Damascus.
The conference, which Saudi Crown Prince Mohammed bin Salman hosted, was the most significant foreign outreach to Syria since Bashar Assad’s overthrow in December. Additionally, it was the first time in almost two decades that a sitting US president and a Syrian head of state had met.
On Saturday, the US authorised transactions with Syria’s interim government, central bank, and state companies by waiving important Caesar Act restrictions for six months, further solidifying this policy shift. Additionally, the action opens the door for infrastructure, water, and energy investments to enable rebuilding and humanitarian aid.
Also Read:
Startup Wrap: As Demand for AI and Technology Rises, Saudi Money is Propelling SME Growth
UAE Would Increase US Energy Investments to $440 Billion by 2035
