U.S. Trade and Financial Sanctions Against Syria
General Information
There are currently three types of sanctions that the U.S. government has imposed against Syria. The most comprehensive sanction, called the Syria Accountability Act (SAA) of 2004, prohibits the export of most goods containing more than 10% U.S.-manufactured component parts to Syria. Another sanction, resulting from the USA Patriot Act, was levied specifically against the Commercial Bank of Syria in 2006. The third type of sanction contains many Executive Orders from the President that specifically deny certain Syrian citizens and entities access to the U.S. financial system due to their participation in proliferation of weapons of mass destruction, association with Al Qaida, the Taliban or Osama bin Laden; or destabilizing activities in Iraq and Lebanon. Please consult our Frequently Asked Questions (FAQ) to find answers to our most commonly-asked questions about how sanctions may affect you and your business.
Syria Accountability and Lebanese Sovereignty Restoration Act
In May 2004, the President signed E.O. 13338 implementing the Syria Accountability and Lebanese Sovereignty Restoration Act (SAA) which imposes a series of sanctions against Syria for its support for terrorism, involvement in Lebanon, weapons of mass destruction programs, and the destabilizing role it is playing in Iraq.
For More Information about the SAA and Export Restrictions
- Fact Sheet on the Syrian Accountability and Lebanese Sovereignty Act
- U.S. Commerce Control List (dual-use Items)
- U.S. Munitions List
Sanctions Against the Commercial Bank of Syria
In 2006, the Department of the Treasury issued a final ruling that imposes a special measure against the Commercial Bank of Syria as a financial institution of primary money laundering concern under Section 311 of the USAPATRIOT Act. This action bars U.S. banks and their overseas subsidiaries from maintaining a correspondent account with the CBS; it also requires banks to conduct due diligence that ensures the CBS is not circumventing sanctions through its business dealings with them.
Executive Orders Imposing Financial Sanctions Against Individuals and Entities
Through Executive Orders 13315, 13224, 13382, 13338, 13399, 13441, and 13460, the President of the United States has imposed financial sanctions on Syrian individuals and entities for involvement in proliferation of weapons of mass destruction; association with al Qaida, the Taliban or Osama bin Laden; or destabilizing activities in Iraq and Lebanon; or benefiting from public corruption. The U.S. Treasury Office of Foreign Assets Control (OFAC) administers these sanctions against individuals and entities that operate in Syria by blocking assets and prohibiting U.S. persons to have financial transactions with them.
There are currently 20 individuals in Syria that have been sanctioned and are listed on the OFAC Excluded Parties List (EPL).