| | In the aftermath of September 11, 2001 the Syrian Government began limited cooperation with United States in the global war against terrorism. However, Syria opposed the Iraq war in March 2003, and bilateral relations with the United States swiftly deteriorated. In December 2003, President Bush signed into law the Syria Accountability and Lebanese Sovereignty Restoration Act of 2003, which provided for the imposition of a series of sanctions against Syria if Syria did not end its support for Palestinian terrorist groups, end its military and security interference in Lebanon, cease its pursuit of weapons of mass destruction, and meet its obligations under United Nations Security Council resolutions regarding the stabilization and reconstruction of Iraq. In May 2004, the President determined that Syria had not met these conditions and implemented sanctions that prohibit the export to Syria of U.S. products except for food and medicine, and the taking off from or landing in the United States of Syrian Government-owned aircraft. At the same time, the U.S. Department of the Treasury announced its intention to order U.S. financial institutions to sever correspondent accounts with the Commercial Bank of Syria based on money-laundering concerns, pursuant to Section 311 of the USA PATRIOT Act. Acting under the International Emergency Economic Powers Act (IEEPA), the President also authorized the Secretary of the Treasury, in consultation with the Secretary of State, to freeze assets belonging to certain Syrian individuals and entities. | | In the aftermath of September 11, 2001 the Syrian Government began limited cooperation with United States in the global war against terrorism. However, Syria opposed the Iraq war in March 2003, and bilateral relations with the United States swiftly deteriorated. In December 2003, President Bush signed into law the Syria Accountability and Lebanese Sovereignty Restoration Act of 2003, which provided for the imposition of a series of sanctions against Syria if Syria did not end its support for Palestinian terrorist groups, end its military and security interference in Lebanon, cease its pursuit of weapons of mass destruction, and meet its obligations under United Nations Security Council resolutions regarding the stabilization and reconstruction of Iraq. In May 2004, the President determined that Syria had not met these conditions and implemented sanctions that prohibit the export to Syria of U.S. products except for food and medicine, and the taking off from or landing in the United States of Syrian Government-owned aircraft. At the same time, the U.S. Department of the Treasury announced its intention to order U.S. financial institutions to sever correspondent accounts with the Commercial Bank of Syria based on money-laundering concerns, pursuant to Section 311 of the USA PATRIOT Act. Acting under the International Emergency Economic Powers Act (IEEPA), the President also authorized the Secretary of the Treasury, in consultation with the Secretary of State, to freeze assets belonging to certain Syrian individuals and entities. |