On June 17, 2020, new US sanctions against the Syrian regime entered into force. They include not only the Syrian government, but also individuals and organizations that help Bashar al-Assad and his allies to repress his own people.
“Our goal is to prevent Bashar al-Assad from gaining a military victory, depriving him of income and broad support, which made inhumane crimes possible,” said US representative to the UN Kelly Kraft.
The new law allows implement sanctions against foreign companies entering into trade relations with the Syrian government. The law also applies to Russian companies involved in projects for the reconstruction, protection, and development of Syrian natural resources.
The law has caused a sharp drop in the national currency, both in Syria and in Lebanon, which is economically connected with Syria. Beirut fears that sanctions will inflict a powerful blow on the Lebanese economy, especially since Hezbollah is participating in hostilities on Assad’s side.