Syria economic meltdown presents new challenge for Assad The toughest U.S. sanctions yet on Syria start to come into effect next week, and they are likely to hit hard on a country whose economy is already melting downFILE - In this January 13, 2010 file photo, Syrian employees stack packets of Syrian currency in the Central Syrian Bank in, Damascus, Syria. Syria faces near complete isolation as the toughest U.S. sanctions yet start to come into effect next week. “The Syrian economy has spiraled out of control and the regime cannot control the Syrian pound anymore,” said Osama Kadi, a Canada-based Syrian economic adviser. The Syrian government called the sanctions “economic terrorism.”Some of the repercussions have already been profound. Syrian legislator Muhannad Haj Ali, who has been under European and American sanctions for years, said Syria survived past economic crises and will overcome the Caesar Act.

Source: ABC News June 12, 2020 06:22 UTC