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On July 1, 2025, a presidential executive order signed by Donald Trump took effect, officially revoking the U.S. sanctions program on Syria. The move automatically removed sanctions on certain Russian individuals and organizations that were previously designated solely for their activities in Syria.
According to a press release published by the U.S. Treasury’s Office of Foreign Assets Control (OFAC), the entities delisted are MB Bank (Mir Business Bank), known for its ties to Iran’s Bank Melli; Tempbank (PJSC “Moscow Joint Stock Bank ‘Tempbank,’” ПАО «Московский акционерный банк “Темпбанк”»); and Russian Financial Alliance Bank (RFA Bank; «РФА Банк»).
Sanctions were also lifted from Promsyrioimport («Промсырьеиморт»), a Russian foreign trade association involved in transporting Syrian oil; Global Vision Group («Глобальные Концепции Групп»); and the logistics firm LLC STG Logistic.
Russian arms exporter Rosoboronexport, a subsidiary of the state-owned defense corporation Rostec, was also removed from the Syria sanctions list — but it remains sanctioned under U.S. programs related to Ukraine, Iran, and Russia more broadly.
Several Russian nationals connected to these firms were also delisted, including Mikhail Gagloev, chairman of Tempbank; Elena Apanasenko, deputy chair of Tempbank; and Andrey Dogaev, first deputy director of Promsyrioimport.
The move reflects Donald Trump’s broader policy shift toward normalization with Syria following the collapse of Bashar al-Assad’s regime in December 2024. On May 13, Trump announced his intention to lift sanctions on Syria, saying he wanted to “give them a chance at greatness.”
The U.S. Department of the Treasury removed a total of 518 individuals and entities as part of its move to end the Syria sanctions program. OFAC’s Syria-related sanctions regime has now been transitioned into the PAARSS (Promoting Accountability for Assad and Regional Stabilization Sanctions) program, which is designed to maintain restrictions on Assad loyalists, human rights violators, drug traffickers, and terrorist groups. For many Russian companies, the rollback has had limited practical effect, as they remain blacklisted under other U.S. sanctions regimes.