Syria

International sanctions imposed by the United Nations (UN), United States (US), European Union (EU), and United Kingdom (UK) have evolved significantly following the end of the Assad regime in 2024. While restrictive measures were originally comprehensive and targeted key sectors such as oil, financial services, and military equipment, there has since been a material shift towards gradual easing and engagement with Syria’s transitional administration.

The EU and UK have lifted most broad economic and sectoral sanctions to support Syria’s political transition and reconstruction, including the removal of restrictions on key economic sectors such as energy and certain trade activities.  At the same time, both jurisdictions continue to maintain targeted sanctions, including asset freezes and travel bans, on individuals and entities associated with the former Assad regime or implicated in human rights abuses.

In the UK, the Syria (Sanctions) (EU Exit) Regulations remain in force but have been amended to reflect the changed political environment, with certain financial and trade restrictions relaxed while designation powers and compliance obligations continue to apply.  Engagement with Syrian counterparties is now more permissive, provided that they are not subject to asset freezes or other restrictions and appropriate due diligence is undertaken.

In the US, sanctions policy has shifted more substantially. In May 2025, OFAC issued General License 25 authorising a wide range of transactions with the new Syrian government and certain previously sanctioned entities, including investment and dealings in Syrian petroleum. Subsequently, on 30 June 2025, Executive Order 14312 formally revoked the core Syria sanctions programme, terminating the national emergency framework and removing most economic sanctions with effect from 1 July 2025.