Syria's economic turmoil worsened in 2019 when neighbouring Lebanon, with which it has extensive economic and financial ties, also descended into crisis. Damascus then introduced a plethora of exchange rates for different transactions to safeguard scarce hard currency.

Some sanctions from trade and oil embargo, asset freezing to financial transaction bans and many more still imposed on Syria despite fall of Assad regime on December 2024 - Anadolu Ajansı

P resident Donald Trump announced on Tuesday, May 13, that he plans to end the U.S. sanctions imposed on Syria, which have been in place for over 45 years. Announcing the news on the first day of his Middle East tour, during the U.S.-Saudi Investment Forum, Trump said he would be lifting sanctions “in order to give them [Syria] greatness.”