Protest in Damascus against tough US sanctions
Автор: AP Archive
Загружено: 2020-06-22
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(17 Jun 2020) Damascenes expressed their rejection of the new U.S. sanctions against Syria, the toughest yet, which are due to go into effect Wednesday.
Known as the the U.S. Caesar Syria Civilian Protection Act, the sanctions prevent anyone around the world from doing business with Syrian officials or state institutions or from participating in the country's reconstruction.
In the ancient Damascus shopping market of Hamidiyeh, residents of the capital denounced the upcoming measures.
The sanctions are "against the people", said one shopper, adding that the Syrians can fight back with their national products.
Meanwhile, economics professor Imad al-Ahmad, said Syria must develop its agricultural sector.
He added that the war-torn country can overcome the "crisis" and prove "those betting on the collapse of Syria" wrong.
Syria devalued its currency by 44% on Wednesday, announcing a new official exchange rate for the pound amid chaos in the market, hours before the new U.S. sanctions were expected to take effect.
Syria's already troubled economy has sharply deteriorated, prices have soared and the national currency, the Syrian pound, collapsed in recent weeks, partly because of fears that the sanctions would further isolate the war-ravaged country.
Experts say the new sanctions will be a heavy blow to a nation where more than 80% of the people already live in poverty, according to the United Nations.
Syrian government officials have called it "economic terrorism."
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