Story perspectives

EU Restores Full Syria Deal, Lifts Oil, Gold Bans

5/12/2026

Summary

EU Reinstates Syria Deal

The Council of the European Union reinstated the full EU-Syria Cooperation Agreement, ending the 2011 suspension.
The repeal restores all 1977 trade provisions, lifting bans on Syrian oil, petroleum products, gold, precious metals and diamonds, and signals EU commitment to re-engage and aid Syria’s economic recovery.
The European Commission will notify Syria and the decision takes effect immediately, with provisions starting the first day of the next month.

Summary

Šuica Announces Funding

European Commissioner Dubravka Šuica announced €175 million and €180 million packages for Syrian reconstruction this year.
She announced that a conference at the end of 2026 will attract European banks and investors to Syria.
Syrian Foreign Minister Asaad al-Shaibani said Syria wants long-term partnerships based on mutual interest, not external control.
Qutaiba Qadish presented a four-point plan to rebuild infrastructure, restore services, revive the economy and reform administration.

Summary

EU Engages Syria

EU ministers met Syrian diplomat Asaad al-Shaibani in Brussels, launching a dialogue 18 months after Assad’s removal.
EU-Syria trade fell from €7 billion in 2010 to €103 million imports and €265 million exports in 2023.
Chancellor Friedrich Merz said 80 percent of Syrian refugees should return within three years, proposed by Ahmed al-Sharaa.
President Ursula von der Leyen pledged “do everything it can” to aid Syria’s recovery after meeting al-Sharaa in Damascus in January.

History

Historical Context

After the EU launched the Euro-Mediterranean Barcelona Process in November 1995 and signed an Association Agreement that reopened trade with war-scarred Lebanon, the bloc revisited its earlier 1977 cooperation pact with Syria. Commissioner Dubravka Šuica’s 2024 announcement of reconstruction aid follows the same neighbourhood strategy that historically jump-started post-conflict economies in the region.

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EU Reinstates Syria Deal

The Council of the European Union reinstated the full EU-Syria Cooperation Agreement, ending the 2011 suspension.
The repeal restores all 1977 trade provisions, lifting bans on Syrian oil, petroleum products, gold, precious metals and diamonds, and signals EU commitment to re-engage and aid Syria’s economic recovery.
The European Commission will notify Syria and the decision takes effect immediately, with provisions starting the first day of the next month.

1 / 4