The European Union is set to lift some sanctions on Syria related to energy, financial transactions and transport next week, a draft document viewed by The National shows.
The legal text is to be consolidated and is expected to be adopted by the bloc's 27 foreign ministers at a meeting in Brussels on Monday. Exemptions for reconstructions efforts, estimated at $250 billion, are to be included in the move, The National understands. "This is an important step that we highly welcome," one EU diplomat said.
The document, which is not public, stated that the EU Council has decided to suspend a number of restrictive measures on Syria in view of the situation in the country, a reference to the toppling in December by rebel groups of the Assad regime after more than five decades in power. The document was adopted on Wednesday and is expected to be reviewed on Friday before it is submitted to the foreign ministers on Monday.
The move aims to "facilitate engagement with the country, its people and businesses in areas of energy, transport and reconstruction, as well as to facilitate the associated financial and banking transactions," the document reads. "The EU stands with the Syrian people in this moment of transition."

The draft declaration offers the EU the possibility to reinstate sanctions through a regular review process, though conditions have not been detailed to give the bloc leeway, depending on the situation on the ground in Syria. The first review is expected to take place before June 1. "The Council will continue to examine whether the suspensions remain appropriate, based on the close monitoring of the situation in the country," the text reads.
"The situation on the ground is really dynamic, so this is the right thing to do," the EU diplomat told The National.
The declaration stated that the EU Council would consider steps taken by Syria's new leadership for "an inclusive transition". This includes accountability for crimes perpetrated by the Assad regime, respect for human rights and rule of law. The statement said officials would also pay attention to Syria's relationship with its neighbours, which include Israel in the south and Turkey to the north. It also called on the respect of Syria's territorial integrity, which Turkey and Israel have been accused of recently violating.
The EU Council decided to extend indefinitely an exemption on humanitarian aid, the document added. A number of other sanctions, including on arms purchases, chemical weapons and those targeting members of the Assad family, will remain in place. "As part of a gradual approach and in a next step, the Council will assess whether further restrictive measures could be suspended," the document says.
Western countries have been engaging cautiously with Syria's new rulers since their takeover of Damascus in December, ending more than five decades of Assad rule. EU foreign ministers gave the go-ahead to lift sanctions last month, paving the way for discussions and the preparation of legal texts in Brussels.
"We welcome the upcoming decisions on easing the EU's sanctions on Syria, in accordance with the political agreement reached at the Foreign Affairs Council on January 27," a senior EU diplomat told The National. "It’s important that this occurs gradually in line with developments in Syria."
The easing of EU sanctions may help attract investment in Syria but US sanctions, which remain in place, are likely to continue having a chilling effect on businesses that wish to operate in the country. Unlike EU sanctions, which are applicable only on the continent, those issued by the US can affect businesses and people across the globe.

The situation in Syria remains volatile despite promises made by President Ahmad Al Shara, a former rebel leader, to organise a peaceful and inclusive political transition, and to integrate armed militias that operated during the 14-year civil war into state structures.
Syria's leaders and its diaspora have been lobbying for western countries to lift sanctions on the state. Most were issued after human rights abuse perpetrated by Mr Al Assad after a peaceful uprising in 2011 that later morphed into civil war.
They say that easing the measures is necessary to give the country a chance to recover and attract foreign investment. Currently, more than 90 per cent of the population lives in poverty. Syria is experiencing widespread power cuts and its infrastructure, including hospitals, has been devastated by the war.
