Make Syria Great Again: Syrians celebrate lifting of US sanctions


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For the first time in more than half a century, posters of a US president were raised in the streets of the Syrian capital – not in protest, but in celebration.

At the Umayyad Square in central Damascus, Syrians celebrated late into Tuesday night following the announcement that the US will lift sanctions on the country’s shattered economy.

Drivers honked horns and placards of US President Donald Trump and Saudi Crown Prince Mohammed bin Salman were hoisted high as Syrians poured into the streets in scenes of unrestrained jubilation.

Crowds danced well into the night, chanting “We love you, Trump!” in a pointed echo of the regime-era slogans once directed at the now-deposed Bashar Al Assad.

“It feels just like the day the regime fell,” taxi driver Mohamed Dibou told The National. “The future looks very optimistic. After so much pain and after everything we have endured, we can finally breathe. President Trump is very humane, we love him.”

Celine Kasem, a Syrian activist and researcher, echoed that feeling, saying it was “the second best day since December 8“, in reference to the day Mr Al Assad fled the capital last year.

Mr Trump announced on Tuesday the lifting of sanctions that were imposed after Mr Al Assad's violent crackdown on peaceful protests in 2011.

The sanctions have presented a significant challenge to the country's new leaders following the toppling in December of Mr Al Assad, who had ruled Syria through 14 years of civil war.

“I will be ordering the cessation of sanctions against Syria in order to give them a chance at greatness,” Mr Trump said at an investment forum hosted by Saudi Arabia at the start of his tour of Gulf states. “It's their time to shine. We're taking them all off. Good luck Syria, show us something very special.”

For many Syrians, the sanctions became a tool of collective punishment. While initially aimed at regime officials and entities, they spiralled into a complex web of restrictions that stopped trade, froze banking systems and made it nearly impossible for ordinary people to access medicine, rebuild homes or run businesses.

“After more than a decade of siege, we can finally dream again – not of luxury, just of a normal life. A stable job, affordable food, a future,” Ms Kasem said.

Drastic changes

The UN estimates that 90 per cent of the Syrian population live below the poverty line. Syrians struggle with severe shortages of basic goods and services including fuel, electricity and essential medical supplies.

But with sanctions lifted and international companies able to invest or establish a presence, drastic changes to the Syrian economy can be anticipated. Some could save lives.

Syrians light fireworks as they celebrate the lifting of US sanctions in Idlib. EPA
Syrians light fireworks as they celebrate the lifting of US sanctions in Idlib. EPA

“We couldn’t bring some medical devices into Syria because of the sanctions,” said Naeem Trabzoni, an orthopaedic specialist who recently finished his residency at the Damascus state hospital. “The sanctions weren’t just on Americans. They were also on any companies that dealt with Syria.

“Pharmaceutical and medical companies couldn’t establish an industry in Syria. American medicines couldn’t enter and there were some medicines that weren’t available without American or European licences.”

Mohammad Al Jabi, a civil servant and engineering student, told The National that he was looking forward to the change Syria was about to experience.

“People outside the country are practically living on Mars in terms of technological advancement,” he said. “Meanwhile, in Syria it’s as if we've been living in the Stone Age.”

As soon as Mr Trump's announcement was made, before he met today with President Ahmad Al Shara, the Syrian pound rose about 25 per cent against the dollar, appreciating from about 12,000 pounds to 9,000 pounds.

A source at the Ministry of Industry said the lifting of sanctions was not a complete surprise. “It was expected, we saw it coming,” the source said. “The industrial and economic sectors are ready. The only thing we were missing … the main problem was the sanctions.

There was widespread joy in Syria after the US President announced that sanctions would be lifted. EPA
There was widespread joy in Syria after the US President announced that sanctions would be lifted. EPA

“We didn’t have access to the international banking system and foreign investors were afraid to invest in a country under sanctions.”

Since the fall of the Assad regime, Syria has begun to shed its status as a pariah state in the global economy. “Countries from all over the world have shown interest in investing,” the source added. “Just recently, we had visiting delegations from Italy, Germany, all the Gulf countries and Turkey.”

Hopes of a rapid recovery need to be managed, however, the source said, with the economy needing time to bounce back. “Of course, the lifting of sanctions will help,” the source said. “But let’s not forget that this is a country in ruins. It’s not going to be rebuilt overnight. The next step is reconstruction.”

Mahmood Rifai, who owns a small carpentry workshop in the suburbs of Damascus, said the lifting of sanctions has given him reason to stay. “Before, I was thinking of leaving – I couldn’t import tools, couldn’t grow the business,” he told The National. “Now I want to stay, hire more people and build something here.”

Some sanctions will be quicker to lift than others. For instance, the ban on using the US banking system is based on executive orders, which can be reversed by the president, while others require Senate approval.

“This is a significant step forward. Banks won't miss out on the opportunities,” a Syrian banker told The National, while stressing that the final outcome will also depend on the country's stability and security.

Syria's transitional government must now deliver on reforms, rebuild critical infrastructure and create jobs in a shattered economy. For now, Syrians are celebrating a rare victory.

As one placard in central Damascus boldly declared: Make Syria Great Again.

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  • Option 2: 50% across three years
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Price, base: Dh1,731,672

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Gearbox: Seven-speed automatic

Power: 770hp @ 8,500rpm

Torque: 720Nm @ 6,750rpm

Fuel economy: 19.6L / 100km

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Director:Guillermo del Toro

Stars:Bradley Cooper, Cate Blanchett, Rooney Mara

Rating: 3/5

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Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

Will the pound fall to parity with the dollar?

The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.

Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.

New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.

“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.

The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.

The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.

Bloomberg

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The UAE has a good record on gender pay parity, according to Mercer's Total Remuneration Study.

"In some of the lower levels of jobs women tend to be paid more than men, primarily because men are employed in blue collar jobs and women tend to be employed in white collar jobs which pay better," said Ted Raffoul, career products leader, Mena at Mercer. "I am yet to see a company in the UAE – particularly when you are looking at a blue chip multinationals or some of the bigger local companies – that actively discriminates when it comes to gender on pay."

Mr Raffoul said most gender issues are actually due to the cultural class, as the population is dominated by Asian and Arab cultures where men are generally expected to work and earn whereas women are meant to start a family.

"For that reason, we see a different gender gap. There are less women in senior roles because women tend to focus less on this but that’s not due to any companies having a policy penalising women for any reasons – it’s a cultural thing," he said.

As a result, Mr Raffoul said many companies in the UAE are coming up with benefit package programmes to help working mothers and the career development of women in general. 

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Have a white front-light and a back red-light on their bike

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Avoid carrying weights that could cause the bike to lose balance

They must cycle on designated lanes and areas and ride safe on pavements to avoid bumping into pedestrians

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Updated: May 15, 2025, 4:47 AM