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Syrian Arab News Agency (SANA) > Latest News > Syria > Syria marks major political, economic and financial developments in one week

Syria marks major political, economic and financial developments in one week

Published: 2026/08/28 9:25 PM
Updated: 2026/08/28 9:25 PM
Syria marks major political, economic and financial developments in one week
Three major developments mark Syria’s transition toward a new phase - SANA

Damascus, Aug. 28 (SANA) Syria witnessed three historic structural transformations during the week of August 22–28, 2026: the formal dissolution of the Syrian Democratic Forces (SDF) and their integration into state institutions, the official removal of Syria from the US State Sponsors of Terrorism list, and the operational launch of international electronic payment systems.

Occurring alongside the kickoff of the 63rd Damascus International Fair, these developments mark a decisive transition from policy formulation to execution, combining internal political consolidation, international reintegration, and financial modernization.

Syria marks major political, economic and financial developments in one week

Delisting from US state sponsors of terrorism after 47 years

On August 24, Syria officially closed a 47-year chapter following its removal from the US State Sponsors of Terrorism list, as the statutory congressional review period expired without objection.

Syria marks major political, economic and financial developments in one week

Syria was initially designated on December 29, 1979. The rescission process formally began on July 8, 2026, when US President Donald Trump notified Congress of his intent to revoke the designation. With the formal update on August 24, Syria is no longer subject to restrictions linked to the designation, including financial and banking prohibitions, while General License 25 issued by OFAC was revoked as no longer necessary.

Targeted sanctions against individuals and entities connected to the ousted regime remain in place. However, the step marks a major legal and economic pivot, paving the way for expanded trade, investment, and reconstruction.

Finance Minister Mohamed Yisr Barnieh confirmed that the decision opens the door to reintegrating Syria and its institutions into the global economic and financial system, attracting foreign direct investment, and localizing modern technologies.

Dissolution of the SDF and institutional integration

Domestically, Mazloum Abdi announced on August 25 the conclusion of the SDF’s mission and its complete dissolution as an independent military force.

The announcement came 17 months and 15 days after the signing of the March 10, 2025 agreement, which established the framework for integrating civil and military structures in northeastern Syria into state institutions, including border crossings, airports, and oil and gas fields.

On the same day, President Ahmad al-Sharaa received Mazloum Abdi and an accompanying delegation at the People’s Palace in Damascus to review integration steps aimed at consolidating state authority and enhancing regional stability.

Syria marks major political, economic and financial developments in one week

This process coincided with legislative and structural measures addressing civil and cultural rights for Kurdish Syrians, notably Decree No. 13 of 2026, which affirmed Kurdish Syrians as an integral part of the Syrian people and repealed extraordinary measures stemming from the 1962 Hasakah census. The decree also established provisions for teaching the Kurdish language and designating Nowruz as an official public holiday.

Global electronic payments system goes live

In the financial sector, Syria shifted electronic payments from regulatory frameworks to practical implementation, completing the first international card transactions in over 15 years following technical reconnection to global payment networks.

On August 27, President Ahmad al-Sharaa executed the first electronic payment transaction using a Visa card.

On the same day, Central Bank of Syria Governor Safwan Raslan completed the first transaction using a Mastercard, marking the operational restoration of international payment systems across the country.

H.H

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TAGGED:President Ahmad al-SharaaSDFSST list
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