Today, the Department of the Treasury's Office of Foreign Assets Control (OFAC) issued Syria General License (GL) 25 to provide immediate sanctions relief for Syria. This action aligns with President Trump's announcement regarding the cessation of all sanctions on Syria. GL 25 authorizes transactions previously prohibited by the Syrian Sanctions Regulations, effectively lifting sanctions on the country.
The U.S. Department of State is also issuing a waiver under the Caesar Syria Civilian Protection Act (Caesar Act). This move aims to enable foreign partners and allies to further unlock Syria's potential. The broader effort seeks to remove all sanctions imposed due to abuses by the Bashar al-Assad regime.
"As President Trump promised, the Treasury Department and the State Department are implementing authorizations to encourage new investment into Syria," stated Secretary of the Treasury Scott Bessent. "Syria must also continue to work towards becoming a stable country that is at peace, and today’s actions will hopefully put the country on a path to a bright, prosperous, and stable future."
The Assad regime's previous support for terrorism has ended, opening a new chapter for Syrians. The U.S. government commits to supporting a stable and unified Syria at peace with itself and its neighbors. Sanctions relief extends with conditions that Syria will not harbor terrorist organizations and will protect its religious and ethnic minorities.
GL 25 marks an initial step in implementing President Trump's May 13 announcement about sanction cessation on Syria. It facilitates activity across various sectors while excluding benefits for terrorist groups or former Assad regime supporters. The authorization does not permit transactions benefiting Russia, Iran, or North Korea.
The initiative aims to rebuild Syria's economy in line with U.S. foreign policy interests by encouraging new investments and supporting the new Syrian government. GL 25 allows otherwise prohibited transactions such as new investments in Syria; financial services provision; dealings related to Syrian-origin petroleum products; and transactions with certain blocked persons listed in an Annex.
OFAC plans further guidance related to GL 25 issuance, advising inquiries be directed toward their compliance hotline.
