In accordance with the President's promise to deliver sanctions relief to Syria, I have issued a 180-day waiver of mandatory Caesar Act sanctions to ensure sanctions do not impede the ability of our partners to make stability-driving investments, and advance Syria's recovery and reconstruction efforts. These waivers will facilitate the provision of electricity, energy, water, and sanitation, and enable a more effective humanitarian response across Syria.
In addition, the Department of the Treasury issued Syria General License (GL) 25 to authorize transactions by U.S. persons previously prohibited by the Syrian Sanctions Regulations, effectively lifting sanctions on Syria. The GL will allow for new investment and private sector activity consistent with the President's America First strategy. The Financial Crimes Enforcement Network (FinCEN) is providing exceptive relief to permit U.S. financial institutions to maintain correspondent accounts for the Commercial Bank of Syria.
Today's actions represent the first step in delivering on the President's vision of a new relationship between Syria and the United States. President Trump is providing the Syrian government with the chance to promote peace and stability, both within Syria and in Syria's relations with its neighbors. The President has made clear his expectation that relief will be followed by prompt action by the Syrian government on important policy priorities.
