The European Union on Monday began easing energy and transport sanctions and banking restrictions against Syria, aiming to help breathe life into the conflict-torn country’s economy if its new leaders work toward a peaceful future.

The EU on Monday lifted a number of economic sanctions on Syria, after the fall of Bashar Assad's regime late last year. “We will go forward with the suspension of sanctions against Syria,” the EU's foreign policy chief Kaja Kallas said before a meeting of foreign ministers in Brussels. “This includes the transport, energy and banking sectors.”

European Union countries on Monday suspended a range of sanctions against Syria with immediate effect, including restrictions related to energy, banking, transport and reconstruction. The EU has a range of sanctions in place targeting both individuals and economic sectors in Syria.

On Monday, the Council decided to maintain lists linked to the Al-Assad regime, but approved the lifting of wide-ranging sanctions on key industries such as the energy, transport and financial sectors.