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.



Mediators Offer Hamas Plan to Close Gaps in Gaza Truce Talks

Egyptian Foreign Minister Badr Abdelatty speaks during a press conference about the situation in the Gaza Strip, in Cairo on August 12, 2025, as the war between Israel and Hamas continues in the coastal Palestinian territory. (Photo by Khaled DESOUKI / AFP)
Egyptian Foreign Minister Badr Abdelatty speaks during a press conference about the situation in the Gaza Strip, in Cairo on August 12, 2025, as the war between Israel and Hamas continues in the coastal Palestinian territory. (Photo by Khaled DESOUKI / AFP)
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Mediators Offer Hamas Plan to Close Gaps in Gaza Truce Talks

Egyptian Foreign Minister Badr Abdelatty speaks during a press conference about the situation in the Gaza Strip, in Cairo on August 12, 2025, as the war between Israel and Hamas continues in the coastal Palestinian territory. (Photo by Khaled DESOUKI / AFP)
Egyptian Foreign Minister Badr Abdelatty speaks during a press conference about the situation in the Gaza Strip, in Cairo on August 12, 2025, as the war between Israel and Hamas continues in the coastal Palestinian territory. (Photo by Khaled DESOUKI / AFP)

Egypt on Tuesday launched a fresh initiative to restart stalled talks on a 60-day Gaza truce, frozen since late July after the United States and Israel withdrew from negotiations in Doha, as a Hamas delegation arrived in Cairo for consultations.

Diplomatic and security sources told Egypt’s state-owned Al Qahera News that senior Hamas official Khalil al-Hayya was leading the delegation, which will discuss a ceasefire and ways to speed humanitarian aid into the besieged Palestinian enclave.

Egyptian Foreign Minister Badr Abdelatty said Cairo was working with Qatar and the US to revive the original proposal, a two-month halt to fighting, the release of some Israeli hostages and Palestinian prisoners, and unrestricted delivery of humanitarian and medical supplies.

He said the plan included interim administration of Gaza by 15 Palestinian technocrats under Palestinian Authority oversight for six months.

The initiative comes as Israel’s Kan broadcaster reported that mediators had floated a broader package to Hamas: the release of all Israeli captives, alive or dead, in exchange for Palestinian security prisoners, alongside a phased Israeli withdrawal supervised by Arab and US monitors.

The proposal would require Hamas to freeze and eventually dismantle its armed wing under international guarantees, including from Türkiye.

Talks have been at a standstill since late July, when US and Israeli negotiators pulled out for consultations.

Abdelatty told reporters on Monday that a “comprehensive deal to end the Gaza war” was possible if both sides showed goodwill and political will.

Khaled Okasha, head of the Egyptian Center for Strategic Studies, said the plan aimed to close gaps that derailed previous rounds, including sequencing of hostage releases, return of bodies, and timelines. He said Washington’s pressure on Israel could open the way for a broader accord, including a reworked Israeli force deployment plan and significantly increased aid flows.

Palestinian analyst Ayman al-Raqab said the Cairo meetings could start with a partial truce but evolve into a full agreement if talks mature, pointing to likely compromises to bridge past differences.

Diaa Rashwan, head of Egypt’s State Information Service, urged Hamas to respond swiftly to the proposal, warning against delays that had derailed earlier efforts.

Israeli media reported divisions within Israel’s negotiating team over the prospects of even a partial deal. Haaretz, citing political sources, said Israel could cancel or delay a planned offensive on Gaza City if Hamas offered major concessions, though chances of resolving disputes remained slim.

Okasha predicted Hamas could show flexibility given its limited options, while Raqab said agreement was possible with clear US guarantees to end the war — otherwise, talks could collapse and Israel might move to fully reoccupy Gaza.