Switzerland announces the lifting of certain sanctions imposed on the energy, transport, and banking sectors in Syria to assist its people.

In a statement today, the Swiss government said: “The Federal Council has decided to lift some sanctions imposed on Syria in implementation of the European Union’s decision to suspend several sanctions. The decision will take effect on the evening of March 7.”

The government added: “The Federal Council has lifted measures imposed on Syria’s energy and transport sectors, and certain financial services and banking relations will be allowed. These changes align with the European Union’s decision on February 24 to ease some sanctions.”

The statement pointed out that easing these measures would not lead to the release of any frozen funds or economic resources. Instead, additional asset freezes will be imposed on the ousted president and his entourage to ensure that no funds linked to the former Assad government flow out of Switzerland, regardless of developments in sanctions policies.

The government stated: “On May 18, 2011, Switzerland joined the European Union in imposing sanctions on Syria, freezing assets worth approximately 99 million Swiss francs, about two-thirds of which are linked to members of the former Assad government and their entourage.”

The government further explained: “The Federal Council has taken all necessary measures to prevent Assad’s funds from flowing out of Switzerland before they undergo judicial scrutiny regarding their legitimacy. If any proceedings determine that these funds have an illicit origin, Switzerland will seek to return them in a manner that benefits the Syrian people.”

The statement emphasized that the measures target individuals who held public office under the authoritarian regimes of Bashar al-Assad and his father, or those who had close family, personal, or business ties with them. These measures include all assets owned by individuals listed in the annex of the freeze order, which takes immediate effect today and will remain in force for four years until further notice.

Amal Farhat