Syria's economic turmoil worsened in 2019 when neighbouring Lebanon, with which it has extensive economic and financial ties, also descended into crisis. Damascus then introduced a plethora of exchange rates for different transactions to safeguard scarce hard currency.

US President Donald Trump's announcement from Saudi Arabia about the United States easing wide-ranging sanctions on Syria sparked festivities in the capital, Damascus, as Syrians hoped for relief after years of impoverishment by civil war and restrictions.

Lifting restrictions could let Syrian banks rejoin the global system, ease imports of vital goods, boost reconstruction, and encourage refugee returns—especially if reforms follow.