✉news BusinessBanking first seen 6 d ago, last 6 d ago, peak #9
Central Bank of Syria executes first US bank letter of credit in 14 years
Original: Central Bank of Syria executes first U.S. bank LC in 14 years for oil imports
The Central Bank of Syria has executed a letter of credit backed by a US bank to finance oil imports, the first such transaction in 14 years, according to state news agency SANA. The move marks a significant shift in Syria's access to international banking after years of sanctions isolation, and is being closely watched for signs of further economic reopening.
Why now: It signals a possible thaw in US sanctions on Syria's banking sector and renewed access to international finance.
Central Bank of SyriaSANASyriaUnited States
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