Syria rejoins global finance after US rescinds terrorism designation
Syria's president paid for a coffee in Damascus with a Visa card to mark the country's removal from the US state sponsors of terrorism list and the reconnection of its banks to the global financial system. Ahmed al-Sharaa appeared with central bank governor Mohammed Safwat Raslan in a government video noting such transactions had been impossible for more than 15 years. The US State Department rescinded the designation after a 45-day congressional review and the US Treasury said American banks may now service Syrian clients, process payments and establish correspondent banking ties. The EU has also eased economic sanctions while targeted measures and FATF concerns remain.
US removed Syria from the state sponsors of terrorism list.
Context
The United States removed Syria from its state sponsors of terrorism list after a congressionally required review. US Treasury guidance now lets American banks work with Syrian clients, and Brussels has relaxed most economic sanctions.…
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