Jeremy Paner Discusses Sanction Rollback and Continued Challenges in Syria with GIR

Dec. 1, 2025 – Jeremy Paner spoke to Global Investigations Review about the continued challenges for businesses operating in Syria, despite the recent rollback of U.S. sanctions.

Ahead of President Donald Trump’s Nov. 10 meeting with Syria’s new president, Ahmed al-Sharaa, three U.S. agencies released a summary of guidance on U.S. sanctions and export control regulations around Syria, including the removal of al-Sharaa from a terrorist designation list.

This was the latest effort by the U.S. to roll back its restrictions on Syria after the fall of former president Bashir al-Assad in December 2024.

Despite the U.S. having now lifted most of the widespread restrictions on transactions and trade, Paner still says most companies haven’t set up operations there, and that the country still hasn’t gotten out from under the impacts of the Assad regime’s “stranglehold on the market.”

“The reality of doing business in Syria [is that] it’s a tough place to do business, irrespective of sanctions and export controls,” he said.

Outside of essential industries like food and medicine, Paner explained that companies are still reluctant to move their operations to Syria.

“I’m not seeing the attempt to open up shop in Damascus,” he said.

Paner also noted that companies returning to Syria could face additional sanctions-related risks related to Russia, since some entities in the country are subject to U.S. restrictions for providing material support to Russia’s war against Ukraine.

Paner specifically pointed to the ongoing terrorism funding case against the French cement company Lafarge over allegations that it made protection payments to the Islamic State and other armed groups during Syria’s civil war.

“The Lafarge [case] shows that you don't want to get involved with these things,” he said.

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