Syria, Germany explore ways to enhance financial, banking cooperation

By Dilara Afifi and Betul Yilmaz

DAMASCUS (AA) - Syria’s finance minister discussed ways on Tuesday to boost cooperation with Germany in financial and banking sectors.

This came during a meeting held in Damascus between Mohammed Abazeed and German envoy Stefan Schneck.

Abazeed underlined the importance of “developing the financial and banking sectors, in cooperation with all countries supporting new Syria,” the state news agency SANA reported.

Schneck, for his part, reiterated Germany’s ongoing efforts to lift sanctions on Syria and to improve bilateral relations and cooperation between the two countries.

He said that nearly one million German Syrians seek to contribute to the reconstruction of Syria, SANA said.

Last month, Syrian Economy Minister Basel Abdul Hannan called on Germany to lift sanctions on financial transfers to Syria.

In January, the US Treasury Department issued a six-month easing of sanctions on Syria to facilitate essential services.

EU foreign policy chief Kaja Kallas also confirmed that EU foreign ministers had agreed on a roadmap to ease sanctions on Syria.

Syria has been under sanctions since December 1979, when it was designated a “state sponsor of terrorism,” according to the US Departments of State and Treasury. The sanctions intensified after the 2011 uprising against the Bashar al-Assad regime.

Assad, Syria’s leader for nearly 25 years, fled to Russia on Dec. 8, 2024, ending the Baath Party regime, which had been in power since 1963.

Ahmed al-Sharaa, who led anti-regime forces to oust Assad, was declared president for a transitional period on Jan. 29.