A money transfer shop in Latakia, Syria. The value of the Syrian pound rose after US President Donald Trump announced the lifting of sanctions last week. EPA
A money transfer shop in Latakia, Syria. The value of the Syrian pound rose after US President Donald Trump announced the lifting of sanctions last week. EPA
A money transfer shop in Latakia, Syria. The value of the Syrian pound rose after US President Donald Trump announced the lifting of sanctions last week. EPA
A money transfer shop in Latakia, Syria. The value of the Syrian pound rose after US President Donald Trump announced the lifting of sanctions last week. EPA

EU says it will begin lifting sanctions on Syria


Khaled Yacoub Oweis
  • English
  • Arabic

The European Union announced on Tuesday it would begin lifting sanctions on Syria to help its people build an "inclusive and peaceful" country.

The EU's 27 foreign ministers agreed to lift "economic sanctions" at a meeting in Brussels, the bloc's foreign affairs minister Kaja Kallas said. Their decision came a week after US President Donald Trump announced he was giving Syria a sanction-free "fresh start" under its interim President Ahmad Al Shara.

The decision to lift economic sanctions – many of which were suspended in February – leaves in place those imposed on former Bashar Al Assad regime officials, and others suspected of human rights crimes.

EU members have said the new Syrian regime must respect the rights of the country's minorities – amid outbreaks of sectarian violence – and prevent a resurgence of terrorism. However, there is also interest in restoring relations with Damascus, with a view to returning some of the hundreds of thousands of refugees living in Europe.

"This decision is reversible and also conditional on progress," Ms Kallas said. "There can be no peace without the path to economic recovery and we all need a stable Syria. Is everything really ideal there? No, it is not. But ... we need to give the Syrian people a chance."

German Foreign Minister Johann Wadephul said the "first step" in lifting restrictions would include easing sanctions on Syria's Central Bank.

"The European Union wants to take a chance on a new start with Syria. We want to give the new leadership a real chance," Mr Wadephul said. "Therefore, as a first step we will lift and relax sanctions that essentially concern the Syrian Central Bank. I will push for us to continue on this path."

Austrian Foreign Minister Beate Meinl-Reisinger said military sanctions should not yet be lifted, while her Dutch counterpart Caspar Veldkamp warned that the lifting of sanctions "is reversible".

But offering an economic perspective to Syria is the only way to achieve reconstruction and "thereby also tackle the root causes of migration", Ms Meinl-Reisinger said.

Syria's new government is seeking a lifting of sanctions as it tries to rebuild the country. Reuters
Syria's new government is seeking a lifting of sanctions as it tries to rebuild the country. Reuters

An ambassador from a European country said the decision had been agreed on earlier before being ratified at the meeting of foreign ministers.

“Everyone now agrees that Syria must be given a chance at stabilisation and then hopefully a move towards pluralisation,” a senior EU official said.

Mr Trump announced the lifting of US sanctions a day before meeting Mr Al Shara in Riyadh. He indicated he had been asked to do so by Saudi Arabia and Turkey.

At a press conference in Damascus alongside his Jordanian counterpart on Tuesday, Syria's Foreign Minister Asaad Al Shaibani said "lifting sanctions expresses the regional and international will to support Syria" and "the Syrian people today have a very important and historic opportunity to rebuild their country".

Mr Al Shaibani said the American “U-turn” has been a factor in the EU's anticipated decision and the lifting of US and EU sanctions will give Syria the chance to become a “normal country”.

“We would be looking at an Iraq or a Libya scenario if salaries continued to be unpaid and the countries who want to help Syria cannot,” added the official, who said the move would be seen by Europeans as a “down-payment” in return for a pledge to pursue a democratisation process.

Another senior diplomatic source told The National the EU will maintain some individual sanctions imposed mainly against former Mr Al Assad and his confidants.

Syrians celebrated in Damascus after Donald Trump announced the lifting of US sanctions last week. AP
Syrians celebrated in Damascus after Donald Trump announced the lifting of US sanctions last week. AP

The source said the EU will also impose sanctions on at least some groups or people suspected of being involved in the killing of hundreds of Alawite community members in March.

Mr Al Shara was appointed President in January, a month after forces led by Hayat Tahrir Al Sham ousted Mr Al Assad, whose family had ruled Syria for five decades.

Celebrations erupted in Damascus last week after Mr Trump's announcement in Riyadh. Drivers honked horns and placards of Mr Trump and Saudi Crown Prince Mohammed bin Salman were hoisted high, as Syrians poured on to the streets.

The sanctions have presented a significant challenge to the country's new leaders in rebuilding the country. The new regime won some relief last week when the World Bank confirmed Syria's $15.5 million debts to the organisation had been cleared.

Qatar and Saudi Arabia agreed to pay Syria's arrears. The deal with the World Bank means the country is now eligible for new funding.

SERIE A FIXTURES

Saturday

AC Milan v Sampdoria (2.30pm kick-off UAE)

Atalanta v Udinese (5pm)

Benevento v Parma (5pm)

Cagliari v Hellas Verona (5pm)

Genoa v Fiorentina (5pm)

Lazio v Spezia (5pm)

Napoli v Crotone (5pm)

Sassuolo v Roma (5pm)

Torino v Juventus (8pm)

Bologna v Inter Milan (10.45pm)

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

The Old Slave and the Mastiff

Patrick Chamoiseau

Translated from the French and Creole by Linda Coverdale

Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
Terror attacks in Paris, November 13, 2015

- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France

Ticket prices

General admission Dh295 (under-three free)

Buy a four-person Family & Friends ticket and pay for only three tickets, so the fourth family member is free

Buy tickets at: wbworldabudhabi.com/en/tickets

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The specs: 2018 Chevrolet Trailblazer

Price, base / as tested Dh99,000 / Dh132,000

Engine 3.6L V6

Transmission: Six-speed automatic

Power 275hp @ 6,000rpm

Torque 350Nm @ 3,700rpm

Fuel economy combined 12.2L / 100km

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Company%C2%A0profile
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The specs

Engine 60kwh FWD

Battery Rimac 120kwh Lithium Nickel Manganese Cobalt Oxide (LiNiMnCoO2) chemistry

Power 204hp Torque 360Nm

Price, base / as tested Dh174,500 

US%20federal%20gun%20reform%20since%20Sandy%20Hook
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Global institutions: BlackRock and KKR

US-based BlackRock is the world's largest asset manager, with $5.98 trillion of assets under management as of the end of last year. The New York firm run by Larry Fink provides investment management services to institutional clients and retail investors including governments, sovereign wealth funds, corporations, banks and charitable foundations around the world, through a variety of investment vehicles.

KKR & Co, or Kohlberg Kravis Roberts, is a global private equity and investment firm with around $195 billion of assets as of the end of last year. The New York-based firm, founded by Henry Kravis and George Roberts, invests in multiple alternative asset classes through direct or fund-to-fund investments with a particular focus on infrastructure, technology, healthcare, real estate and energy.

 

LA LIGA FIXTURES

Friday Athletic Bilbao v Celta Vigo (Kick-off midnight UAE)

Saturday Levante v Getafe (5pm), Sevilla v Real Madrid (7.15pm), Atletico Madrid v Real Valladolid (9.30pm), Cadiz v Barcelona (midnight)

Sunday Granada v Huesca (5pm), Osasuna v Real Betis (7.15pm), Villarreal v Elche (9.30pm), Alaves v Real Sociedad (midnight)

Monday Eibar v Valencia (midnight)

SPEC%20SHEET
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Wicked: For Good

Director: Jon M Chu

Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater

Rating: 4/5

Five expert hiking tips
    Always check the weather forecast before setting off Make sure you have plenty of water Set off early to avoid sudden weather changes in the afternoon Wear appropriate clothing and footwear Take your litter home with you

 

 

How to turn your property into a holiday home
  1. Ensure decoration and styling – and portal photography – quality is high to achieve maximum rates.
  2. Research equivalent Airbnb homes in your location to ensure competitiveness.
  3. Post on all relevant platforms to reach the widest audience; whether you let personally or via an agency know your potential guest profile – aiming for the wrong demographic may leave your property empty.
  4. Factor in costs when working out if holiday letting is beneficial. The annual DCTM fee runs from Dh370 for a one-bedroom flat to Dh1,200. Tourism tax is Dh10-15 per bedroom, per night.
  5. Check your management company has a physical office, a valid DTCM licence and is licencing your property and paying tourism taxes. For transparency, regularly view your booking calendar.
SPECS
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The%20specs
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COMPANY%20PROFILE
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Updated: May 21, 2025, 11:29 AM