EU suspends key energy, banking sanctions on Syria: What we know

The European Union on Monday lifted several economic restrictions on Syria as the country looks to rebuild its economy under a new government following the overthrow of President Bashar al-Assad at the end of last year.
What happened: EU foreign ministers gathered in Brussels and opted to suspend a broad set of sanctions against Syria to support the country’s economic recovery and reconstruction as the bloc increases engagement with the post-Assad Ahmed al-Sharaa government.
The council removed five financial entities — Industrial Bank, Popular Credit Bank, Saving Bank, Agricultural Cooperative Bank and Syrian Arab Airlines — from the list of those subject to asset freezes, thereby allowing funds and economic resources to be directed to the Central Bank of Syria.
In addition, the EU halted sector-specific measures affecting the oil, gas, electricity and transport sectors, and introduced exemptions to the ban on banking relations between Syrian banks and EU financial institutions.
The European Council said in a statement Monday that the sanctions suspension was part of the 27-state bloc’s efforts to support “an inclusive political transition in Syria, and its swift economic recovery, reconstruction, and stabilization.