The US Department of State also revoked its designation of al-Nusra Front, later known as Hay’at Tahrir al-Sham (HTS), as a global terrorist organization. The Treasury Department announced corresponding sanctions relief.
The move marks another step in the improving ties between Washington and Damascus and could open the way for increased investment in Syria, which is seeking to rebuild after more than 13 years of civil war.
“Today’s action will help foster additional investment in Syria to promote political and economic stability,” Treasury Secretary Scott Bessent said.
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The Treasury Department said the measures were in line with President Donald Trump’s promise to deliver sanctions relief to Syria. It also stressed that the changes do not alter Washington’s efforts to counter terrorism or its commitment to holding sanctioned individuals and groups in Syria accountable.
From al-Nusra Front to Syria’s presidency
HTS was formerly known as al-Nusra Front and had been al-Qaeda’s branch in Syria. The group broke ties with al-Qaeda in 2016.
In December 2024, rebels led by HTS overthrew longtime Syrian President Bashar al-Assad. Its leader, Ahmed al-Sharaa, later became president and has since sought to present himself as a unifying figure as Syria rebuilds.
Trump met with al-Sharaa on the sidelines of a NATO summit in Turkey in July, shortly before Washington formally moved to remove Syria from the terrorism list.
The US had announced its intention to remove the designation in July, describing the decision as part of efforts to support Syria’s stabilization and reintegration into the international community.
US Secretary of State Marco Rubio said the move gives Syrians “a path to prosperity.”
The decision “eliminates the final major barriers for private sector investment in Syria and promotes Syria’s economic recovery and reintegration into the global economy,” Rubio said.
Damascus welcomes move
Syrian officials welcomed Washington’s decision as an opportunity to attract investment and reconnect the country with the global financial system.
Foreign Minister Assad al-Shaibani called the move a “historic milestone,” saying it reflected “the new Syrian state’s commitment to international peace and security.”
Finance Minister Mohammed Barnieh described it as a “success for Syrian diplomacy,” according to Syria’s official news agency SANA.
The decision, he said, “opens a major and long-awaited door” to deeper integration into the global economic and financial system, investment, modern technologies and development opportunities.
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Central bank chief Safwat Raslan also welcomed the move, saying the bank was “working to build a modern and reliable financial system capable of evolving with developments and taking advantage of all opportunities.”
Syria remains economically devastated after more than a decade of war, while the government faces the task of rebuilding infrastructure and attracting foreign capital. The latest US decision removes one of the major remaining barriers as Damascus seeks to restore economic ties with the outside world.
