London: The United Kingdom lifted sanctions on 24 Syrian entities, including the central bank, other banks, and oil companies on Thursday. The UK removed these Syrian entities from its sanctions list and stopped freezing their assets. This move comes as the West reconsiders its approach to Syria following the fall of the previous Syrian regime.

According to Qatar News Agency, the European Union (EU) announced on February 24 that it would suspend several economic sanctions on Syria, affecting key economic sectors. The EU stated that this measure aims to facilitate dealings with Syria, its people, and its companies in key areas such as energy, transport, as well as easing financial and banking transactions related to these sectors and those necessary for humanitarian purposes and reconstruction.

European sanctions on the previous Syrian regime have been in place since December 1, 2011, and have been reviewed annually.