Sanctions Stifle Syria's Investment Revival

Western sanctions on Syria's banking sector hinder crucial investments despite the interest from local and foreign investors. Sanction waivers are insufficient and are causing challenges for investment flows through standard banking systems, exacerbating the economic crisis and prolonging the suffering of Syrian citizens.

The imposition of Western sanctions on Syria's banking sector is obstructing essential investments, crucial for rebuilding the war-torn economy.

Ayman Hamawiye, leading the Syrian Investment Agency, highlighted the escalating struggles due to these sanctions, saying they primarily affect Syrian citizens.

Despite some flexibility with a U.S. waiver and potential EU amendments, financial activity remains heavily restricted, pushing for investments via informal networks rather than streamlined banking processes.

(With inputs from agencies.)