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.



Kurdistan Region Blames ‘Terrorist Group’ for Peshmerga Attack

Peshmerga forces during a celebration in Erbil, the capital of the Kurdistan Region, in 2023 (AFP)
Peshmerga forces during a celebration in Erbil, the capital of the Kurdistan Region, in 2023 (AFP)
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Kurdistan Region Blames ‘Terrorist Group’ for Peshmerga Attack

Peshmerga forces during a celebration in Erbil, the capital of the Kurdistan Region, in 2023 (AFP)
Peshmerga forces during a celebration in Erbil, the capital of the Kurdistan Region, in 2023 (AFP)

Five members of the Kurdish Peshmerga forces were wounded in two separate drone attacks targeting military positions in northern Iraq’s Duhok province, the Kurdistan Region Security Council said on Tuesday.

The council said the strikes occurred on Monday and Tuesday in the town of Amadiya, where surveillance posts were being set up. The attacks were carried out using drones, it added.

Kurdish intelligence sources suspect a splinter faction of the Kurdistan Workers’ Party (PKK) was behind the strikes, suggesting the group aimed to disrupt ongoing peace efforts in both Türkiye and Syria.

“These are terrorist attacks,” the Security Council said in a statement, vowing to take “all necessary measures” against groups that threaten the region’s security and stability.

The PKK, which is considered a terrorist organization by Türkiye, the United States, and the European Union, has been engaged in a decades-long insurgency against the Turkish state and maintains bases in northern Iraq.

The Kurdistan Region Security Council said Tuesday that the recent drone attacks on Peshmerga forces may have been intended to derail ongoing peace efforts among Kurdish groups across the region, as well as political developments within the Kurdistan Regional Government.

The council suggested the twin strikes in Duhok province were connected to peace negotiations between Türkiye and the PKK, as well as intra-Kurdish talks in northeast Syria, where Kurdish factions are seeking unity under what is known as the “Kurdish Unity Conference.”

It also linked the attacks to the final stages of forming the Kurdistan Region’s new government, warning that “certain groups and factions are working to obstruct peace and stability in the region.”

The comments came days after Syrian Kurdish factions held what was described as a “historic conference” in the northeastern city of Qamishli, calling for a decentralized democratic state.

The event brought together Kurdish delegations from Syria, Iraq, and Türkiye, and was attended by a US delegation.

Kurdish expert Kifah Mahmoud has suggested that factions within the PKK were likely behind the recent drone attacks on Peshmerga positions in northern Iraq.

Mahmoud told Asharq Al-Awsat that the attacks were linked to the ongoing peace initiatives in the region, both within Kurdish territories and at a broader geopolitical level.

“These developments are related to the peace processes, whether in the Kurdish regions or at the regional level,” Mahmoud said.

“We have positive negotiations between Türkiye and the PKK, as well as the Syrian Democratic Forces (SDF) moving toward a peaceful stance with Türkiye. Most importantly, there’s a positive trajectory in relations between Baghdad and Erbil, along with ongoing regional negotiations between Washington and Tehran.”

Mahmoud believes that these efforts are not well-received by more hardline factions within the PKK. He pointed out that the PKK has long been divided into parallel wings operating under different names in various active regions, with some factions opposed to peace initiatives in Kurdish territories.

While some Kurdish officials have speculated that Türkiye may be indirectly involved in the attacks, Mahmoud dismissed this theory, instead attributing responsibility to the more radical PKK factions based in areas such as the Qandil Mountains and Sinjar, as well as near Amadiya.

He also rejected suggestions that the strikes were aimed at disrupting the formation of the Kurdistan Region’s new government, asserting that the main objective was to undermine the ongoing peace processes within Kurdish areas.