📰 Syria welcomes Australia’s decision to lift of sanctions on financial sector

Damascus, Dec. 19 (SANA) Syria’s Central Bank (CBS) Governor Abdulkader Husrieh welcomed on Thursday the Australian administration’s decision to lift sanctions on the Syrian financial sector. In a statement on his Facebook page, Husrieh stated that Syrian financial institutions can now conduct banking activities with Australia, open representative offices, and establish correspondent relations with Australian banks.

He noted that Syria’s Commercial Bank has also been removed from the sanctions list. Husrieh expressed gratitude to the Australian administration, calling the move an “crucial milestone” that paves the way for Syria’s banking sector to reintegrate into the global financial system. Australia imposed sanctions in 2012 on the former regime, including bans on trade in oil, petroleum products, financial services, telecommunications, and precious metals.

Other Western countries, most notably the United States, have recently lifted sanctions on Syria as part of efforts to backing recovery and reconstruction following the fall of the former regime.