Syria Sanctions Relief: State of Play and What It Means for Business

Description:

This session will examine the status of sanctions relief in Syria after months of groundbreaking policy and regulatory changes across the sanctions regimes of the US, EU and UK vis-à-vis the country. The session will explore the evolution of these changes and likely evolution going forward delving into prospects for business activity in the near and medium-term horizon.

The session will also examine the banking sector perspectives on Syria from managing the changes following the removal of Syria as a comprehensively sanctioned country, the remaining sanctions requirements related to the former-Assad-regime and ISIS, the status of the Syria Caesar Act, and practical considerations regarding risk assessment and compliance for the industry when addressing risks related to Syria.

Highlights of the webinar will include:

• An understanding of how Syria has undergone accelerated sanctions relief in the space of a few months after decades of sanctions.

• Insight into the sweeping policy and legal actions required to unwind the heretofore comprehensive sanctions infrastructure, including economic and terrorism-related restrictions.

• Awareness of how alignment between the US, EU, and UK has gradually unfolded following the wide-ranging US EO 14312—with more steps expected.

• Knowledge of how changes in the regulatory sanctions posture of the US, EU, and UK open the path for reconnecting Syria with the world economy and increase chances for reconstruction.

• A realistic appraisal of Syria’s significant potential business opportunities, while recognizing that legal, operational, and financial risks remain acute.

• A clear overview of considerations for the financial services sector when engaging with Syria, including which sanctions have been lifted and which remain.

• Identification of three key risks when dealing with Syria—Iran, ISIS, and sanctions evasion.

• Lessons learned from past experiences facilitating humanitarian transactions for Syria.

• Practical considerations for KYC/CDD.

Certificate of Attendance:

All active ACSS members who attend this session live will be able to download their certificate from the Learning Management System (under the Achievements tab).

Please note: this webinar will not be recorded, and certificates will only be issued to live participants.