US eases sanctions on investment in Kurdish, Turkish areas of Syria

The United States has formally lifted sanctions on foreign investments in non-regime held areas of northern Syria, a long expected move that was held up by Treasury Department red tape as reported earlier by Al-Monitor.

The Treasury Department posted the authorization on its website, which allows activities in 12 different economic sectors in the US-protected and Kurdish government areas of northeast Syria and parts of Turkish-occupied north and northwest Syria. However, the authorization does not extend to oil, most of which sits in the northeast and is a vital source of income for the Kurdish-led autonomous administration governing northeast Syria.