Finance
Switzerland lifts economic sanctions on Syria
Published by Global Banking & Finance Review®
Posted on June 20, 2025
1 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on June 20, 2025
1 min readLast updated: January 23, 2026
Switzerland lifts sanctions on Syria, including the central bank, to aid economic recovery and political transition, following similar EU and US actions.
ZURICH (Reuters) -Switzerland said on Friday it will lift a raft of economic sanctions imposed on Syria, including the Middle Eastern country's central bank.
After the toppling of former Syrian president Bashar al-Assad in December 2024, targeted sanctions against individuals and entities linked to the former government will still remain in place, Switzerland's governing Federal Council said.
"The aim of this decision is to promote the country's economic recovery and an inclusive and peaceful political transition," the council said in a statement.
After an initial easing of sanctions in March, Switzerland is now lifting restrictions on the provision of certain financial services, trade in precious metals and the export of luxury goods, the government said.
Some 24 entities including the central bank of Syria have also been removed from the sanctions list, it added.
The announcement follows the EU's decision to lift its economic sanctions on Syria at the end of May after a similar move by the U.S. Treasury Department in the same month.
(Reporting by Marleen KaesebierEditing by Dave Graham)
Switzerland is lifting economic sanctions on Syria, including those on the central bank, financial services, trade in precious metals, and the export of luxury goods.
The decision aims to promote Syria's economic recovery and support an inclusive and peaceful political transition, according to a statement from the Swiss council.
Targeted sanctions against individuals and entities linked to the former Syrian government will remain in place even after the lifting of broader sanctions.
Switzerland initially eased sanctions in March before announcing the complete lifting of restrictions.
The announcement follows similar decisions by the EU and the U.S. Treasury Department to lift their economic sanctions on Syria in May.
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