US Official: Sanctions Contributed to Devaluation of Syrian Pound

Syrian pounds are pictured inside an exchange currency shop in Azaz, Syria February 3, 2020. REUTERS/Khalil Ashawi
Syrian pounds are pictured inside an exchange currency shop in Azaz, Syria February 3, 2020. REUTERS/Khalil Ashawi
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US Official: Sanctions Contributed to Devaluation of Syrian Pound

Syrian pounds are pictured inside an exchange currency shop in Azaz, Syria February 3, 2020. REUTERS/Khalil Ashawi
Syrian pounds are pictured inside an exchange currency shop in Azaz, Syria February 3, 2020. REUTERS/Khalil Ashawi

US Special Representative for Syria Engagement James Jeffrey said US sanctions and measures contributed to the devaluation of the Syrian pound against the dollar.

In a video meeting that was attended by his Deputy Assistant Secretary Joel Rubin on Sunday, Jeffrey said that Washington made a proposal to Syrian President Bashar al-Assad through a third party to end the crisis.

Washington wants a political process that shouldn’t necessarily change the regime but at least change its attitude and support of terrorist groups and Iran, he continued.

Regarding the economic crisis, he said that the US sanctions against Damascus contributed to the collapse of the Syrian current and that the regime "is incapable of managing an effective economic policy and conducting money-laundry in Lebanese banks."

Moreover, Rubin said that the Caesar Act covers individuals and companies. Responding to a question on ruling out the Kurdish administration from this act, he said that if anyone wishes to invest in energy and construction in self-administered zones then this is out of the US administration's interest.

Meanwhile, Syrian Prime Minister Imad Khamis said that stabilizing the exchange rate between 2017-2020 required USD20 billion.

Khamis added that calls are ongoing with friendly states to discuss possible ways to reinforce the lira’s value.



Hezbollah Urges Lebanese State to Push for Israel’s Pullout

A United Nations Interim Force in Lebanon (UNIFIL) vehicle drives as residents who were displaced because of the hostilities between Hezbollah and Israel return to the Lebanese village of Khiam, near the border with Israel, southern Lebanon, January 23, 2025. REUTERS/Karamallah Daher
A United Nations Interim Force in Lebanon (UNIFIL) vehicle drives as residents who were displaced because of the hostilities between Hezbollah and Israel return to the Lebanese village of Khiam, near the border with Israel, southern Lebanon, January 23, 2025. REUTERS/Karamallah Daher
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Hezbollah Urges Lebanese State to Push for Israel’s Pullout

A United Nations Interim Force in Lebanon (UNIFIL) vehicle drives as residents who were displaced because of the hostilities between Hezbollah and Israel return to the Lebanese village of Khiam, near the border with Israel, southern Lebanon, January 23, 2025. REUTERS/Karamallah Daher
A United Nations Interim Force in Lebanon (UNIFIL) vehicle drives as residents who were displaced because of the hostilities between Hezbollah and Israel return to the Lebanese village of Khiam, near the border with Israel, southern Lebanon, January 23, 2025. REUTERS/Karamallah Daher

Hezbollah said on Thursday that Israel has to completely withdraw from Lebanon as the 60-day period in a ceasefire deal comes to an end, adding that the Lebanese state should push for guarantee for the withdrawal.

The Iran-backed group also said in a statement that it was following developments and any breach to the agreement would not be accepted.

Israel and Hezbollah agreed in November to an American- and French-mediated ceasefire, bringing an end to more than a year of fighting. Under the deal, Israeli forces were to withdraw from Lebanon and Hezbollah forces were to withdraw from south of the Litani river over the 60-day period ending next Monday morning.

Hezbollah said in its statement that it was the Lebanese state’s responsibility to act and press the countries sponsoring the ceasefire agreement should Israel delay its military pullout from south Lebanon.

Caretaker National Defense Minister Maurice Sleem on Thursday met with acting Army Commander Major General Hassan Audi at his office in Yarzeh to discuss the situation in southern Lebanon and the implementation stages of the ceasefire arrangements.

Sleem reaffirmed Lebanon's firm position on the necessity of the Israeli troop withdrawal from the South in line with the ceasefire deadline of January 26.

Speaker Nabih Berri also discussed the matter with head of the Ceasefire Monitoring Committee, US General Jasper Jeffers, in Ain al-Tineh.

Discussions reportedly focused on developments on the Israeli withdrawal from remaining occupied territories in southern Lebanon, as well as Israeli violations of the ceasefire agreement and UN Resolution 1701.