US to open limited foreign investment in northern Syria
The US will allow limited foreign investment in parts of Syria that are not under the control of the Syrian government, the acting secretary of state, Victoria Nuland, said on Wednesday, May 11.

The move would allow economic investment free from US sanctions imposed on Damascus, according to Reuters.

Washington seeks to permit investment in areas liberated from the Islamic State (ISIS), Nuland said in a meeting of the global coalition in Morocco on Wednesday.

The ease on restrictions would apply to areas held by the Kurdish-led Syrian Democratic Forces (SDF), as well as territory under the control of Turkish-supported militias.

A diplomat informed Reuters the changes would apply to agriculture and rebuilding but does not cover northeast Syria’s limited oil reserves.

Nuland stated the US wants to raise $350 million to put toward stabilization in northeast Syria in 2022 and a similar sum for Iraq in order to boost investment and work against any resurgence of ISIS.

Previous US licenses on investment in Syria were limited to battling the COVID-19 pandemic in the country, Reuters said.

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