Following the December 2024 regime change, Syria’s business landscape is transforming rapidly. International sanctions are easing, borders are reopening, and the new government is courting foreign investment. For organizations evaluating Syrian opportunities in 2026, the critical question isn’t whether to pay attention; it’s whether you have the current intelligence and support to move forward confidently.
Sanctions Relief: What's Changed
In May 2025, the US Treasury issued General License 25, effectively lifting primary sanctions and authorizing transactions across all sectors of Syria’s economy. This includes dealings with 28 previously blocked entities: Syria’s central bank, commercial banks, petroleum companies, and key infrastructure operators. The EU and UK followed with similar measures, suspending sanctions on energy and transport sectors while enabling banking relationships for humanitarian and reconstruction purposes.
However, critical limitations persist. Hundreds of individuals and entities remain sanctioned. The relief measures are explicitly reversible, sanctions can be reimposed rapidly if Syria’s new government fails to meet commitments on counter-terrorism, minority protection, and democratic governance.
Economic Realities
Fourteen years of conflict have reduced Syria’s GDP by more than 50% since 2010. The World Bank projects modest 1% growth for 2025, but against a backdrop of extreme poverty affecting one in four Syrians. The Central Bank held just $200 million in foreign exchange reserves in late 2024, down from $17 billion in 2010.
Yet opportunities exist precisely because of these challenges. Syria updated its Investment Law in 2025, expanding tax and customs incentives while improving legal safeguards with international arbitration options. The government has explicitly welcomed public-private partnerships for infrastructure, energy, telecommunications, and reconstruction projects.
What's Working on the Ground
Despite challenges, practical operations are resuming:
- Border Reopening: The Nasib crossing with Jordan has reopened, enabling goods movement
- Banking Normalization: Syria’s reconnection to SWIFT enables cross-border payments previously impossible under comprehensive sanctions
- Regional Support: Saudi Arabia, Turkey, and Qatar are funding public sector salaries and energy infrastructure
- Logistics Operations: Major international companies like DHL Express maintain and expand Damascus operations
What Remains Difficult
Security Environment: While the transitional government controls Damascus and major cities, security situations vary significantly by region. Sporadic violence continues in some areas.
Compliance Complexity: Despite sanctions relief, companies must screen counterparties against SDN lists and avoid transactions benefiting Russia, Iran, or North Korea (all reportedly maintaining presence in Syria).
Banking Limitations: Many international banks remain reluctant to process Syrian transactions due to reputational concerns.
Data Scarcity: Reliable economic data is extremely limited. The World Bank characterizes Syrian information as “extraordinarily scarce.”
Resource Control: Syria’s oil and gas resources remain primarily under Kurdish control in northeast Syria, complicating energy independence.
The 2026 Decision
For organizations evaluating Syrian opportunities, the decision framework has fundamentally changed. The question is no longer whether engagement is legally possible (sanctions relief has largely answered that). Instead, critical questions concern operational viability, acceptable risk levels, and strategic positioning for a market in transition.
Success requires navigating intersecting challenges: security assessments, sanctions compliance, banking relationships, legal frameworks, currency controls, evacuation planning, and medical infrastructure. Organizations need current intelligence from practitioners with recent on-ground experience..
Syria in 2026 is neither the comprehensively sanctioned state of 2024 nor the stable market some projections suggest. It’s a jurisdiction in transition, with both significant opportunities and substantial risks. Those who succeed will be those who understand the difference.
Join us for a live Q&A with executives, legal experts, and security professionals currently on the ground in Damascus. Get answers to the questions that outdated reports can’t address—from visa processing and banking realities to security protocols and sanctions compliance.
Syria 2026 Market Entry Webinar
November 17, 2025 | 16:00 GST
Featured Speakers:
- Joud Abdel Messie, Executive Director, DHL Express Syria
- Husain Khaddour, Managing Partner, Khaddour Law Firm
- Richard Doyle, Protective Services Manager, Sicuro Group
- Hannah Piercy, Risk Operations Lead, Sicuro Group
- Moderated by River Jangda, Sicuro Group Commercial Operations Director
Attendees receive a complimentary Syria-specific risk assessment checklist.