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 Says Fired Missiles at Base Near South Israel's Ashdod

Israel’s Iron Dome anti-missile system operates to intercept incoming projectiles, amid hostilities between Hezbollah and Israeli forces, in Nahariya, Israel, November 21, 2024. REUTERS/Thomas Peter
Israel’s Iron Dome anti-missile system operates to intercept incoming projectiles, amid hostilities between Hezbollah and Israeli forces, in Nahariya, Israel, November 21, 2024. REUTERS/Thomas Peter
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Hezbollah Says Fired Missiles at Base Near South Israel's Ashdod

Israel’s Iron Dome anti-missile system operates to intercept incoming projectiles, amid hostilities between Hezbollah and Israeli forces, in Nahariya, Israel, November 21, 2024. REUTERS/Thomas Peter
Israel’s Iron Dome anti-missile system operates to intercept incoming projectiles, amid hostilities between Hezbollah and Israeli forces, in Nahariya, Israel, November 21, 2024. REUTERS/Thomas Peter

Hezbollah said its fighters on Thursday fired missiles at a military base near south Israel’s Ashdod, the first time it has targeted so deep inside Israel in more than a year of hostilities.

Hezbollah fighters "targeted... for the first time, the Hatzor air base" east of the southern city, around 150 kilometers from Lebanon’s southern border with Israel, "with a missile salvo," the Iran-backed group said in a statement.

A rocket fired from Lebanon killed a man and wounded two others in northern Israel on Thursday, according to the Magen David Adom rescue service.
The service said paramedics found the body of the man in his 30s near a playground in the town of Nahariya, near the border with Lebanon, after a rocket attack on Thursday.
Israel meanwhile struck targets in southern Lebanon and several buildings south of Beirut, the Lebanese capital.

Israel has launched airstrikes against Lebanon after Hezbollah began firing rockets, drones and missiles into Israel the day after Hamas' attack on Israel last October. A full-blown war erupted in September after nearly a year of lower-level conflict.
More than 3,500 people have been killed in Lebanon, according to the country’s Health Ministry, and over 1 million people have been displaced. It is not known how many of those killed were Hezbollah fighters and how many were civilians.
On the Israeli side, Hezbollah’s aerial attacks have killed more than 70 people and driven some 60,000 from their homes.