EU Suspends Various Sanctions Measures on Syria
The Council of the European Union on Feb. 24 suspended various sanctions on Syria to support an "inclusive political transition" there, the council said.
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
Specifically, the council suspended sectral measures in the energy and transport sectors, removed five entities from its individual sanctions list, issued certain exemptions to the restrictions allowing for "banking relations between Syrian banks and financial institutions," extended the humanitarian exemption indefinitely and announced an exemption for certain exports of luxury goods.
The five entities dropped from the sanctions list are Industrial Bank, Popular Credit Bank, Saving Bank, Agricultural Cooperative Bank and Syrian Arab Airlines. Restrictions remain on individuals and entities tied to the Bashar Assad regime, the council said.