A new economic dawn appears to be breaking over Syria as U.S. President Donald Trump unexpectedly announced the end of Washington’s 13-year sanctions regime, signaling a seismic shift for a nation long crippled by war and isolation.
The move, applauded by Gulf allies and welcomed by regional investors, has already started reshaping investor sentiment. The Syrian pound, once in freefall, saw a sharp rebound—from 12,600 to under 9,500 per dollar in a matter of days—while business leaders from Turkey, the UAE, and Lebanon are preparing to re-enter a market they once feared.
“Syria today is a land of opportunities,” Syrian Finance Minister Yisr Barnieh told Reuters. “We call on all investors to take this opportunity.”
The end of sanctions coincides with the rise of interim President Ahmed al-Sharaa, a former al Qaeda commander turned reformist, whose government has pivoted toward pro-market reforms and international cooperation. Gulf allies, especially Saudi Arabia and Turkey, have thrown their support behind Sharaa’s leadership, seeing it as a stabilizing force in a fractured region.
Saudi Arabia’s foreign minister on Wednesday touted Syria as a “nationwide construction site in waiting,” a sentiment echoed by Turkish business circles. Onur Genc, CEO of Turkey’s BBVA group, said the lifting of restrictions would allow Turkish firms and banks to lead Syria’s multibillion-dollar reconstruction effort.
“For Turkey, it’s going to be positive because there’s a lot of reconstruction needed in Syria,” Genc said. “The Turkish companies are ready.”
Diaspora Dollars and Private Sector Revival
One of the most vocal returnees is billionaire Syrian businessman Ghassan Aboud, based in the UAE, who revealed plans for major investments in Syrian education, culture, and real estate.
“They were scared to come and work in Syria due to sanctions risks… this will completely disappear now,” he said. “The ground is fertile.”
Others are already mobilizing. Lebanese investor Imad al-Khatib fast-tracked his $200 million waste sorting facility in Damascus, dispatching engineers just hours after the announcement.
The anticipation is palpable in Damascus. “It’s too good to be true,” said Karam Bechara, GM of Shahba Bank, after watching footage of Trump meeting Sharaa in Riyadh. “We’re on the right track internationally.”
Cautious Optimism Amid Uncertainties
While the optimism is undeniable, Syria remains fragile. Several armed groups remain active, Kurdish autonomy remains unresolved, and Israel continues to voice concern over Sharaa’s past jihadist affiliations. Human rights groups and minority communities have expressed reservations about long-term inclusivity and governance.
But for now, the U.S. greenlight appears to have sent a strong message to international financial institutions and Syria’s global diaspora.
“This opens the way for Syria’s reintegration,” said Jihad Yazigi, editor of The Syria Report. “It’s a very strong political signal.”
As bulldozers prepare to roll into long-neglected cities and investors pack their briefcases, Syrians are daring to hope—cautiously—that the worst may finally be behind them.
