Syria rejoins global financial system after removal from terror sponsor list

Syria has officially returned to the global financial system following its removal from the United States' list of state sponsors of terrorism. To mark the occasion, President Ahmed Al-Sharaa used a Visa card to pay for coffee in Damascus, an event captured in a video released by Central Bank Governor Safwat Raslan.

The removal of the designation by the United States on Monday ends a 47-year period of severe economic restrictions. U.S. Treasury Secretary Scott Bessent stated that the move is intended to “foster additional investment in Syria to promote political and economic stability.”

This transition follows the December 2024 overthrow of Bashar al-Assad by rebel forces led by Al-Sharaa. The President described the decision as a way for Syria to “shake off a dark stain” and begin a new chapter focused on reconstruction and development.