Syria's stock exchange reopens after six-month closure in run-up to al-Assad ouster

Published on 02/06/2025 - 18:20 GMT+2

Trading has resumed connected nan Damascus Securities Exchange aft a six-month closure, as Syria's caller leaders effort to statement up nan country's battered system and statesman rebuilding aft astir 14 years of civilian war.

The banal speech was closed successful nan chaotic days starring up to nan December ouster of erstwhile long-time President Bashar al-Assad successful a lightning rebel offensive.

Syrian Finance Minister Mohammed Yisr Barnieh, who attended nan reopening, said it signals that nan country's system is opening to retrieve and that nan banal speech "will run arsenic a backstage institution and service arsenic a genuine hub for Syria's economical development, pinch a beardown attraction connected digital," state-run news agency SANA reported.

He said nan country's caller leaders scheme to "facilitate business operations and unfastened doors to promising finance opportunities."

The move to reopen comes arsenic world restrictions connected Syria’s financial systems statesman to ease.

The United States and nan European Union person some announced nan lifting of a wide raft of sanctions that had been slapped connected Syria nether nan al-Assad dynasty's rule.

Last week, nan EU lifted sanctions connected nan state but slapped caller ones connected group and groups it said participated successful attacks connected civilians during a activity of unit successful nan coastal region successful March.

The EU's overseas argumentation main Kaja Kallas had announced plans to assistance nan sanctions nan erstwhile week.

She said nan move was "conditional" and that sanctions could beryllium resumed if nan caller authorities of Ahmad al-Sharaa, nan erstwhile rebel commandant who led nan complaint that ousted al-Assad, doesn't support nan peace.

Kallas said successful a connection that removing sanctions "is simply nan correct point to do, astatine this historical time, for nan EU to genuinely support Syria’s betterment and a governmental modulation that fulfils nan aspirations of each Syrians."

Also past week, Syria inked a powerfulness woody worthy $7 cardinal (€6.1 billion) pinch a consortium of Qatari, Turkish and US companies for nan improvement of a 5,000-megawatt power task to revitalise overmuch of nan country’s war-battered energy grid.

The consortium led by Qatar’s UCC Concession Investments — on pinch Power International USA and Turkey’s Kalyon GES Enerji Yatirimlari, Cengiz Enerji — will create 4 combined-cycle state turbines pinch a full generating capacity estimated astatine astir 4,000 megawatts and a 1,000-megawatt star powerfulness plant.