
Syrian Oil and Gaz News
EU edges closer to Syrian oil sanctions
During a key meeting on Friday, mid-level representatives from all 27 countries in the EU signed off on a ban on imports of oil and petroleum products from Syria. Although the decision must still be approved at ministerial level – a move expected next week – the consensus reached on Friday is the clearest sign yet that the bloc will move forward with the ban, which could be the most damaging sanctions against the regime to date.
Europe is responsible for about 95 per cent of Syrian oil exports, and European energy groups Royal Dutch Shell and Total are among the biggest companies doing business in Syria.
The drive for a new round of sanctions was spearheaded by the Netherlands. According to a diplomat briefed on the agreement, energy companies conducting business with Syria would be granted a “limited” period to get out of their contracts.
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