What You Need to Know
• The United States removed Syria from its “state sponsors of terrorism” list on July 8, 2023.
• This designation had been in place since 1979 and limited Syria’s economic recovery.
• Analysts indicate that this delisting will facilitate Syria’s reintegration into the global financial system.
On July 8, 2023, U.S. President Donald Trump announced the removal of Syria from the “state sponsors of terrorism” list, a designation that had been in effect since 1979. Following a 45-day congressional review period, the formal delisting was completed on July 10, 2023. Although many restrictions on transactions with Syrian banks had already been lifted, the terrorism designation continued to impose additional financial and trade barriers. Analysts, including Vittorio Maresca di Serracapriola from Karam Shaar Advisory, believe that this change will significantly boost Syria’s economy, which has been severely impacted by nearly 14 years of war and international sanctions. The removal of sanctions on Syrian President Ahmed al-Sharaa and the former rebel group Hayat Tahrir al-Sham has also contributed to this reintegration effort.
Why It Matters
The removal of Syria from the U.S. terrorism list marks a significant step in the country’s efforts to recover from years of conflict and isolation. The designation was originally imposed due to Syria’s support for Palestinian armed groups and strained relations with the U.S. following the Iraq War in 2003. After the collapse of the al-Assad regime in December 2024, the new government prioritized lifting sanctions to facilitate economic recovery and re-establish international relations. With almost 90 percent of the population still facing economic hardship, this delisting is crucial for Syria’s reintegration into the global economy.
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