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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
    Washington, London - Asharq Al-Awsat
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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.

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US to Appoint Türkiye Ambassador as Special Envoy for Syria

US Ambassador to Türkiye Thomas Barrack (L) shakes hands with Turkish Foreign Minister Hakan Fidan within an informal meeting of The North Atlantic Treaty Organization (NATO) foreign ministers in Antalya, on May 15, 2025. (AFP)
US Ambassador to Türkiye Thomas Barrack (L) shakes hands with Turkish Foreign Minister Hakan Fidan within an informal meeting of The North Atlantic Treaty Organization (NATO) foreign ministers in Antalya, on May 15, 2025. (AFP)
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US to Appoint Türkiye Ambassador as Special Envoy for Syria

US Ambassador to Türkiye Thomas Barrack (L) shakes hands with Turkish Foreign Minister Hakan Fidan within an informal meeting of The North Atlantic Treaty Organization (NATO) foreign ministers in Antalya, on May 15, 2025. (AFP)
US Ambassador to Türkiye Thomas Barrack (L) shakes hands with Turkish Foreign Minister Hakan Fidan within an informal meeting of The North Atlantic Treaty Organization (NATO) foreign ministers in Antalya, on May 15, 2025. (AFP)

The United States will appoint President Donald Trump's longtime advisor and current US ambassador to Türkiye, Thomas Barrack, as a special envoy for Syria, a person with direct knowledge of the matter and a diplomat in Türkiye said.

The decision follows Trump's landmark announcement last week that US sanctions on Syria would be lifted. It also suggests US acknowledgement that Türkiye has emerged with key regional influence on Damascus since Bashar al-Assad's ouster by opposition factions in December, which ended 14 years of civil war, said Reuters.

Trump met with Syria's interim president Ahmed al-Sharaa in Saudi Arabia on May 14 and urged him to normalize ties with longtime foe Israel following his surprise sanctions announcement.

"There is no announcement at this time," a US State Department spokesperson said when asked for comment about Barrack's Syria role.

Barrack, a private equity executive who has long advised Trump and chaired his inaugural presidential committee in 2016, is expected to continue as US envoy to Türkiye, the sources said.

Speaking to the Senate Foreign Relations Committee on Tuesday, US Secretary of State Marco Rubio said he was allowing Turkish embassy staff, including Barrack, to work with local officials in Syria to understand what aid they need.

"We want to help that government succeed, because the alternative is full-scale civil war and chaos, which would, of course, destabilize the entire region," Rubio said.

A US-Turkish meeting focused on Syria was also held in Washington on Tuesday, which Barrack attended according to Türkiye’s foreign ministry, where sanctions relief and efforts to counter terrorism were discussed.

Removing US sanctions would clear the way for greater engagement by humanitarian organizations working in Syria, and ease foreign investment and trade as the country tries to rebuild.

Barrack has been busy since his arrival in Ankara earlier this month, dining with Türkiye’s Foreign Minister Hakan Fidan on his second evening in the capital, according to people familiar with the event.

He joined Rubio for several high-profile meetings last week, including one with Syrian Foreign Minister Assad al-Shibani in Antalya hosted by Fidan.

He and Rubio also met with Turkish and Ukrainian government ministers ahead of the latter's talks with Russian officials, the first direct ceasefire discussions in three years between the warring sides.