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

A Syrian worker is pictured at a makeshift refining installation in the Tarhin area near the Turkish-controlled city of al-Bab, in the north of the Aleppo province, on Nov. 19, 2021.

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.

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