EU Restores Full Trade Relations With Syria as Visa, Mastercard Resume Operations

TLDR

• The EU restored full trade relations with Syria on May 11, 2026.
• Visa and Mastercard resumed operations in Syria on May 9 through Qatar National Bank.
• The EU began easing sanctions in May 2025 following political changes in Syria.
• The United States lifted its sanctions on Syria in June 2025.
• Mastercard signed a digital payments agreement with Syria’s central bank in September 2025.
• Binance launched crypto services in Syria in June 2025 with access to over 300 tokens.

(SeaPRwire) –   The European Union reinstated full trade relations with Syria on May 11, 2026, as Visa and Mastercard returned to the market after a 15-year absence. Both payment networks commenced operations on May 9 via Qatar National Bank. These developments reconnect Syria to the global financial system following years of sanctions and conflict.

EU and Syria Resume Trade Relations as Payment Networks Revive

The EU imposed sanctions on Syria in 2011 amid the early stages of the civil war. As a result, Syria’s trade volume sharply declined from its peak of $9.1 billion in 2010. Political transformations began after the collapse of Bashar al-Assad’s government in December 2024.

The EU initiated the process of relaxing economic restrictions in May 2025, while the United States removed its sanctions on Syria in June 2025. Subsequently, Mastercard entered into an agreement with Syria’s central bank in September 2025 to develop digital payment infrastructure. Visa and Mastercard officially relaunched their services on May 9, 2026, through Qatar National Bank, which obtained authorization to facilitate their return.

Authorities confirmed that banks are now able to process international card payments for both retail and online transactions. A central bank official stated that the agreement supports “modern, secure, and regulated electronic payments.” Two days later, the EU reinstated full trade ties, formally integrating Syria back into European markets.

Crypto Platforms Broaden Access as Financial Channels Reopen

Binance commenced operations in Syria in June 2025 following the easing of sanctions. The exchange provides access to more than 300 tokens and enables trading in Syrian pounds. Binance reported increased trading volumes from Syrian users after the removal of sanctions.

Chainalysis observed growth in informal crypto payment systems across Syria during periods of banking restrictions. The company noted that residents utilized digital assets for cross-border transfers and remittances. These systems expanded despite limited availability of formal banking channels.

The Syrian Center for Economic Studies released a proposal in January 2025 advocating for the legalization of Bitcoin and the digitization of the Syrian lira. The proposal outlined measures to modernize payment systems and enhance financial inclusion. However, the interim government has not yet enacted formal cryptocurrency regulations.

No detailed guidelines have been issued regarding compliance or consumer protections for digital assets. Experts indicate that regulatory clarity remains pending under the current transitional administration. While Visa and Mastercard now handle retail payments, crypto platforms continue to enable cross-border transactions.

Qatar National Bank continues collaborating with Syrian authorities to integrate global payment infrastructure. Mastercard affirmed that its infrastructure agreement remains in effect and supports ongoing system enhancements. The EU’s decision on May 11 marked another milestone in restoring Syria’s trade and financial connections.