In a significant development, European Union ambassadors have reached a preliminary agreement to lift all economic sanctions imposed on Syria, aiming to assist the war-torn country in its recovery following the ousting of President Bashar Assad.

The agreement was announced during a press conference in Damascus, where Syria’s Foreign Minister emphasized that the lifting of sanctions reflects an 'international will' to support Syria, presenting what he described as a historic opportunity for the Syrian people to rebuild their nation.

The decision by EU countries comes in conjunction with an announcement from the United States, which last week declared its intention to lift sanctions against Syria as well.

The lifting of these sanctions is anticipated to restore Syria's access to international banking systems and unblock its central bank assets.

However, while major economic measures are to be removed, the agreement is set to be accompanied by new individual sanctions targeting those individuals identified as inciting ethnic tensions within the country.

This development follows a wave of violence against the Alawite minority and reflects ongoing concerns about the potential for civil unrest in the region.

Certain restrictions targeting the Assad regime, including prohibitions on the sale of weapons and equipment likely to be used against civilians, are expected to remain in place.

The discussions on lifting sanctions follow a previous step taken by the EU in February, which saw a temporary suspension of sanctions in key economic sectors, highlighting the bloc’s cautious approach towards Syria's governance and commitment to human rights.

EU officials have indicated that these newly lifted sanctions may be reinstated should Syria's leaders fail to uphold agreements related to minority rights and the transition toward a more democratic governance structure.

The formal announcement of the agreement is anticipated to take place at a meeting among EU foreign ministers scheduled in Brussels.