The US is continuing to strangle the Syrian economy through new economic sanctions as the Levantine nation seeks to reintegrate into its regional fold, according to a report published by Reuters on 30 May.
Washington on Tuesday slapped punitive measures on two Syrian money service organizations it claims assist Damascus in retaining access to the international financial system, in violation of sanctions. These are Washington’s first punitive measures against Syria since its readmittance to the Arab League.
In a statement, the US Treasury Department accused two money-transfer companies, Al-Fadel Exchange and Al-Adham Exchange Company, of assisting President Bashar al-Assad’s government as well as its Lebanese and Iranian allies — Hezbollah and the Quds Force, an arm of the Islamic Revolutionary Guard Corps (IRGC).
The sanctions, imposed under the Caesar Act, come after Arab states earlier this month turned the page on years of conflict with Assad and readmitted Syria to the Arab League. However, the US made it no secret that it is against the move and would much rather continue with Syria’s isolation.
Even two of the principal backers of extremist groups in Syria, Saudi Arabia and Qatar, have switched their stance and renegotiated their relationship with Syria.
On 17 May, Qatar announced that it would not stand in the way of normalization with Syria.
“Each Arab country … can unilaterally normalize relations with Syria,” Prime Minister Mohammed bin Abdulrahman bin Jassim Al-Thani said, adding that Syria must go “through a just and comprehensive solution.”
“The solution to restoring stability in Syria must satisfy the Syrian people,” he added.
Since the Arab embrace of Damascus following February’s earthquake, Washington has continued to stand in the way of normalization with Syria.