On December 24, 2024, The Washington Post reported that U.S. President Joe Biden is contemplating significant sanctions against Russia's energy sector during the final weeks of his presidency. Sources indicate that these sanctions would target the 'shadow fleet' of oil tankers transporting Russian oil to non-Western countries, as well as exporters who have previously evaded sanctions. This move aims to provide leverage for incoming President Donald Trump's negotiations regarding the ongoing conflict in Ukraine.
In Syria, the ongoing civil war, which began in 2011, has led to a catastrophic economic collapse. The country's GDP has plummeted by over 80%, from approximately $68 billion in 2010 to around $9 billion in 2023. The war's impact has devastated infrastructure and industries, resulting in a dire humanitarian situation where 70% of the population requires assistance to meet basic needs.
Western sanctions, particularly the 2019 Caesar Act, have exacerbated the economic crisis in Syria, restricting financial transactions and trade. Despite some calls for easing these sanctions following the recent change in Syria's governance, compliance with international standards on human rights and political representation remains a prerequisite for any potential relief.