EU TO START SUSPENDING ECONOMIC SANCTIONS ON SYRIA

BRUSSELS, Feb 24 (Bernama-dpa) -- EU foreign ministers decided on Monday to start suspending sanctions in Syria following the fall of long-term ruler Bashar al-Assad, reported German news agency dpa.

Some measures in the energy, transport and banking sectors will be lifted in order to support a rapid economic recovery, reconstruction and stabilisation of the country, according to a press release.

This includes restrictions that affect the energy supply and impede the movement of people and goods.

In addition, financial institutions in the European Union will be allowed to maintain relationships with Syrian banks under certain conditions to facilitate transactions for reconstruction.

The decision takes effect on Tuesday, once it is published in the EU's Official Journal.

The possibility of suspending further economic sanctions is being examined, the statement said.

EU ministers already agreed in principle last month to gradually ease sanctions on Damascus.

The EU will "closely monitor the situation in the country to ensure that such suspensions remain appropriate", the press release said.

EU sanctions in relation to the al-Assad regime, the chemical weapons sector and the illegal drug trade remain in place.

From 2011, the EU imposed sanctions in response to the violent actions of the former government.

-- BERNAMA-dpa