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Syrian authorities call for lifting sanctions, unblocking frozen assets

"Syria’s financial reserves are very small, and the Syrian currency is falling," Head of the Syrian Transitional Government Mohammed al-Bashir stated

DOHA, December 17. /TASS/. Head of the Syrian Transitional Government Mohammed al-Bashir has called for Syria’s foreign assets to be unfrozen and sanctions lifted from the Arab republic due to the dire economic situation in the country.

"We call on the international community to unblock Syria’s frozen assets," he said in an interview with Al Jazeera. "Syria’s financial reserves are very small, and the Syrian currency is falling."

"The banks are half-empty," the transitional prime minister added.

According to al-Bashir, the Syrian pound to dollar exchange rate on the black market ballooned to 30,000 during the worst years of the conflict, sometimes exceeding 40,000. On Monday, Al Jazeera reported that the streets of Damascus were filled with unlicensed money changers, who were previously outlawed in Syria. The pound exchange rate on the streets varied between 8,000 and 9,000 for one dollar on December 16. The exchange rate reportedly fluctuates across regions, but does not exceed 10,000 Syrian pounds.

Al-Bashir also said that it is necessary to lift sanctions against Syria in order to support the economy and stimulate investment activity.

"It is necessary to provide the Syrian people with urgent humanitarian aid, and support them politically and economically during this critical period," he noted.

To achieve this, the transitional prime minister noted, the new authorities will work on "restoring diplomatic and political relations with other countries."

In late November, Syria’s armed opposition launched a large-scale offensive against government forces. On December 8, they entered Damascus, while the army withdrew from the Syrian capital. Syria's President Bashar Assad resigned and left the country, issuing directives for the peaceful transfer of authority. On December 10, Mohammed al-Bashir, who had led the so-called Syrian Salvation Government in the Idlib Province since January 2024, announced his appointment as head of Syria’s interim government until March 1, 2025.