Economic deregulation, lifting sanctions, and publishing sector-specific guides for private investment in Syria are welcome steps. But the administration’s emerging policy seems to rest on a facile theory of reconstruction – that financial connectivity and foreign investment will generate growth, and that growth will inexorably consolidate peace and stability. There is reason to worry the grimmer outcome may grip Syria. Consider Ibrahim Sukkarieh, the Director General of the Syrian Sovereign Wealth Fund, who was a sector emir for HTS in Idlib. Congress should add one that requires Syria to publish its sovereign wealth fund’s holdings and disclose the ownership data behind state contracts.