Empire’s imposition of criminal unilateral economic measures, sometimes referred to as sanctions, destroyed the previously sovereign country’s economy and currency.

The imposition of the economic warfare was rationalized upon the basis of fabricated humanitarian concerns. The Caesar Photo justification(1) was proven fraudulent as were the chemical weapons false flags.(2)

UN expert Alena Douhan assessed that,

“unilateral sanctions against Syria do not conform with a broad number of international legal norms, are introduced to apply pressure on the state, cannot be justified as countermeasures under the law of international responsibility, and therefore can be qualified as unilateral coercive measures.”(3)

Douhan confirmed that

“From 2000 to 2010, Syria’s economic growth averaged more than 5% per year. The subsequent conflict had catastrophic effects on the economy, with significant damage and destruction of its productive capacity, assets and infrastructure, as well as massive displacements and refugee flows. This damage was exacerbated by the imposed comprehensive unilateral sanctions, leading to a protracted slowdown in economic activity with the GDP contracting by more than 90%.”(4)

Former U.S Ambassador to Syria, James Jeffrey, who described al Qaeda as “an asset” confirmed the intent of the economic warfare against Syria when he bragged,

“we’ve ratcheted up the isolation and sanctions pressure on Assad, we’ve held the line on no reconstruction assistance, and the country’s desperate for it. You see what’s happened to the Syrian pound, you see what’s happened to the entire economy. So, it’s been a very effective strategy….”(5)

All of this confirms the weaponization of global financial instruments to serve Empire’s imperial projects and to collectively punish civilians globally.

Now that Washington and allies have successfully and criminally changed the “Syrian Regime” and installed an unelected al Qaeda puppet junta, the weaponization of international financial instruments is accelerating.

Not only has Trump signed an executive order to end sanctions, to the benefit of al Qaeda, but international finance is opening previously shut doors. The international inter-bank remittance system (SWIFT), for example, recently reconnected the Syrian banking system to its system.

Arabi Souri reports that the al Qaeda/HTS-appointed governor of the Syrian Central Bank has confirmed, that ‘the door is now open” (to more SWIFT transactions).(6)

This of course is only the beginning. The formula of destroying a country and its economy to later “rebuild” it for the benefit of International Finance (IF) is not new. NATO’s destruction of Libya is illustrative of this.(7)

The IMF and assorted global financial institutions have been hovering over Syria’s carcass for some time now. They will profit from Syria’s externally-imposed misery.

The International Monetary Fund (IMF) recently asserted that Syria will need “substantial international assistance to support the authorities’ efforts to rehabilitate the economy, meet urgent humanitarian needs, and rebuild essential institutions and infrastructure.”(8)

The IMF report does not mention the fact that the West and its institutions are directly responsible for the damage to Syria’s institutions and its peoples, nor does it mention that the “new authorities” are al Qaeda.

Global financial institutions, appendages of Empire, have yet again left their morality in the dustbin and have embraced international criminality.

Their alliance with Empire’s al Qaeda/ISIS proxies in Syria and beyond also recalls international finances’ support for Hitler and nazi Germany not only before the outbreak of WW2 but during the war as well.

Adam Lebore notes in his book Tower of Basel that the Bank of International Settlements (BIS) “was a de facto arm of the Reichsbank … the BIS carried out foreign exchange deals with the Reichsbank. It accepted looted Nazi gold until the final years of the war …”(9)

The looting of formerly sovereign Syria has just begun.

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Mark Taliano is a Research Associate of the Centre for Research on Globalization (CRG) and the author of Voices from Syria, Global Research Publishers, 2017. He writes on his website where this article was originally published.

Notes

(1) Rick Sterling, “The Caesar Photo Fraud That Undermined Syrian Negotiations. “A Pattern of Sensational But Untrue Reports That Lead to Public Acceptance of Western Military Intervention” Global Research, 07 March, 2018. ( The Caesar Photo Fraud That Undermined Syrian Negotiations. “A Pattern of Sensational But Untrue Reports That Lead to Public Acceptance of Western Military Intervention” – Global ResearchGlobal Research – Centre for Research on Globalization) Accessed 03 July, 2025.

(2) Prof. Piers Robinson, ” From Sarin Nerve Agent Attacks to Chlorine Gas; the Syria Chemical Weapons Story Telling Continues.” Global Research, 15 June, 2025. (From Sarin Nerve Agent Attacks to Chlorine Gas; the Syria Chemical Weapons Story Telling Continues – Global ResearchGlobal Research – Centre for Research on Globalization) Accessed 03 July, 2025.

(3) “WATCH: UN expert calls for lifting of SANCTIONS on Syria.” Syriana Analysis.  Youtube video. 25 November, 2022. (WATCH: UN expert calls for lifting of SANCTIONS on Syria – Mark Taliano) Accessed 03 July, 2025.

(4) Ibid.

(5) Vanessa Beeley, “UN official challenges punitive unilateral sanctions suffocating Syrians.” Substack. 12 November, 2022. (UN official challenges punitive unilateral sanctions suffocating Syrians) Accessed 03 July, 2025.

(6) Arabi Souri, “Syria’s Al Qaeda HTS Terrorist Government: Bank Wires Money through SWIFT to Italy.” Global Research. 30 June, 2025. (Syria’s Al Qaeda HTS Terrorist Government: Bank Wires Money through SWIFT to Italy – Global ResearchGlobal Research – Centre for Research on Globalization) Accessed 07 July, 2025.

(7) Prof. Michel Chossudovsky,” Destroying a Country’s Standard of Living: What Libya Had Achieved, What has been Destroyed.” Global Research. 20 March, 2021. (Destroying a Country’s Standard of Living: What Libya Had Achieved, What has been Destroyed) Accessed 03 July, 2025.

(8) “Syria—IMF Staff Concludes Staff Visit to Damascus.” 10 June, 2025. IMF Press Release, No. 25/188. (Syria—IMF Staff Concludes Staff Visit to Damascus) Accessed 07 March, 2025.

(9) Adam Lebore, Tower of Basel, Copyright 2014, PUBLIC AFFAIRS publishing. Page 78

Featured image: Centra Bank of Syria (Source: Mark Taliano)

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