Levant in May 2026: the most important developments in economy
The Levant's economy in May 2026 was shaped mainly by Syria's reopening to Europe and the wider world. On 11 May the European Union approved restoring trade relations with Syria, and on 19 May it lifted sanctions dating from the Assad era on key Syrian ministries. Syria also returned to the global payment network after 15 years, and Qatar National Bank became the first global bank to accept international cards in the country. Emaar founder Mohamed Alabbar was reported to plan investments of up to 18 billion dollars in Syria across real estate, tourism and infrastructure, with no timeline given. Syria also discussed airport development with an Egyptian company. Reports said Damascus still depended on Russian oil.
In Lebanon, Egypt and Lebanon signed an agreement on 6 May to rehabilitate Lebanon's gas infrastructure. On 21 and 22 May the United States imposed sanctions on nine Lebanese individuals, saying they shielded Hezbollah and blocked disarmament efforts. Lebanon warned of a severe economic shock on 17 May.
by WorldBrief & Maksim Micheliov | AI-generated summary
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