Published by Global Banking and Finance Review
Posted on January 29, 2025
By Timour Azhari
DAMASCUS (Reuters) -Syrian Finance Minister Mohammed Abazeed discussed his country's financial position and potential sanctions relief in his first meeting with European Union officials on Wednesday since Islamist rebels ousted the Assad regime last year.
Abazeed met with Germany’s temporary envoy to Syria Bjorn Gehrmann and EU representative Michael Ohnmacht in Damascus just days after the European Union agreed on a roadmap to ease its sanctions on Syria.
The EU has a range of sanctions in place targeting both individuals and economic sectors in Syria, including a ban on Syrian oil exports and restrictions on access to global financial channels.
“We hope that the image Germany had of Syria before December 8 will change,” Abazeed told Gehrmann at the beginning of the meeting.
“It’s a pleasure to be here in the new Syria after almost 13 years of absence,” Gehrmann responded.
“We’re now in the process of reestablishing our diplomatic presence in Damascus… we have a couple of questions and a couple of messages that I would like to discuss with you today in order to start our diplomatic relations, also on the financial matters.”
Gehrmann told Reuters after the meeting that the EU was still hammering out the details of which sanctions would be lifted in Brussels and it could take a few weeks.
He said the meeting had explored Syria’s budgetary situation and financial sector regulations and priorities for sanctions relief.
“It was the first discussion about the general situation and what we heard so far was encouraging,” he said.
EU governments want to help kickstart Syria’s recovery.
But many have also stressed that the EU should take a gradual and reversible approach to retain leverage as it encourages the new authorities in Damascus to implement inclusive policies.
(Reporting by Timour Azhari; Editing by Sharon Singleton)
