In: Economics
Why has the U.S. placed a trade embargo on Syria and is it likely the embargo will ever be lifted?
In 1986, the relationship between the U.S and Syria was strained due to Syria’s involvement in terrorism. Realtions between the U.S and Syria were officially suspended in 2012. The U.S government has placed a series of economic sanctions on Syria. This series of economic sanctions included export sanctions, legislatively mandated penalties, ineligibility to receive most forms of U.S aid or to purchase U.S military equipment.
In 2006 the U.S government imposed a sanction against the Commercial bank of Syria, which was a result of money laundering. A series of executive orders were imposed on certain Syrian citizens or entities due to their participation in terrorism, acts of public corruption, and destabilizing activities in Iran and Lebanon. There were 20 Syrian citizens who were sanctioned as of 2010. In 2011, President Obama signed an executive order to freeze all assets of the Syrian Government, which prohibits U.S persons from engaging in any transaction involving the Syrian Government, bans U.S imports of Syrian-origin petroleum products or petroleum products, prohibits any dealing in or related to Syria’s petroleum by any U.S persons, and also prohibits U.S persons from operating or investing in Syria.
I don’t see the trade embargo imposed on Syria being lifted any time soon. The accusations of terrorism in Syria was a large enough issues to place the embargo and several sanctions. The issues arising now with the civil war in Syria and everything happening over there, I would not think the U.S. would want to be a part of that. Although, the bombing of a Syrian school bus was said to be done by a U.S missile. I can see the embargo being lifted if the country was restored and issues were resolved—but as for now the embargo will probably not be lifted.