SST Designation Rescinded

Last week saw a significant development in Syria’s economic rehabilitation and reintegration into the international economic community.

On 24 August 2026, the United States formally rescinded Syria’s designation as a State Sponsor of Terrorism. The decision was authorised by the U.S. Secretary of State following the required congressional notification period. In parallel, the U.S. Department of the Treasury’s Office of Foreign Assets Control implemented associated sanctions-list changes and updated its regulatory guidance.

This important development represents another meaningful step towards Syria’s reintegration into the international community and the creation of a more supportive environment for responsible investment and economic recovery.

For Gulfsands, this progress is particularly significant. Earlier this year, we became the first international energy company to lift force majeure and return to operations in Syria. Through our joint operating company, Dijla Petroleum Company, and in close cooperation with the Syrian Petroleum Company and our partners, we are advancing our investment programme and Field Development Plan for Block 26 in northeast Syria.

Our focus remains on safe and responsible operations, infrastructure rehabilitation, production optimisation, the introduction of new technologies, and the creation of local employment and training opportunities.

While much work remains, and every step must continue to be guided by robust compliance, governance, safety and security standards, this formal rescission further strengthens the prospects for responsible, longterm investment.

Gulfsands remains committed to supporting the recovery of Syria’s energy sector and helping to ensure that the country’s natural resources contribute to economic renewal and deliver lasting benefits for the Syrian people.