After years of civil war and crippling Western-imposed sanctions, Syrians are now cautiously optimistic about their future after the U.S. recently lifted sanctions on their country.
Earlier this month -- less six months after the ousting of former President Bashar al-Assad -- the U.S. announced the lifting of sanctions on Syria, sparking hope for millions of Syrians who have struggled to survive amid a deteriorating economy.
Syrian business owners, in particular, are daring to hope for easier transactions as they believe the lifting of sanctions will significantly ease the pressure on the country's economy. Many are hopeful that the move will encourage overseas companies to return to Syria and resume business activities.
Muhammad Korkly, a medical equipment dealer, views the lifting of sanctions as a transformative opportunity. For the first time, he can independently browse and connect with international companies for imports, eliminating reliance on foreign brokers.
"Previously, only a few people with foreign passports could import goods. They'd register purchases under their foreign names since they weren't Syrian. Now, we can import equipment directly to Syria, ensuring better quality and prices," said Korkly in an interview with China Global Television Network (CGTN).
The long civil war, which began in 2011, has left many Syrians with severe injuries requiring specialized medical equipment. These supplies were hard to come by, but Korkly is hopeful that with sanctions lifted, they will become more accessible and affordable.
"Many patients come to our center with severe, chronic injuries -- foot drop, blindness, or injuries to sensitive parts of their bodies. We're doing our best to serve as many as we can," said Korkly.
The removal of sanctions also marks a crucial step toward improving living conditions for ordinary Syrians. The Syrian pound has surged against the U.S. dollar, rising to 9,000 after being 12,500 the day before the sanctions were lifted on May 23.
This currency appreciation has been reflected in the prices of basic goods, which have dropped by 20 to 25 percent.
"Before, banking restrictions made money transfers nearly impossible. Sanctions meant dollars were hard to obtain. Now, everything is positively affected by the lifting of sanctions, and things are getting better. Syrians can finally feel the difference in their purchasing power, allowing them to buy more goods for their homes," said Maamoun Redwan, a food items dealer.
The sanctions, which have been in place for years, have long been viewed as a significant obstacle to Syria's economic recovery and post-war reconstruction. With their removal, experts believe the effects will ripple across multiple sectors.
"The lifting of sanctions will be felt in the insurance sector and in money transfers to and from Syria through banks via the SWIFT. This will facilitate remittances to Syrians abroad and also attract foreign investment, leading to new investments and job opportunities," said Muhammad Bakkour, an economic analyst.
With over 90 percent of the Syrian population living below the poverty line, the removal of sanctions is expected to clear the way for more engagement by humanitarian organizations working in the country. It is also expected to facilitate foreign investment and trade, both of which are critical for Syria's long-term reconstruction.
Syrians look to rebuild war-torn country following lifting of US sanctions
Syrians look to rebuild war-torn country following lifting of US sanctions
