Switzerland has imposed a new set of sanctions against Syria banning import, purchase and transport of Syrian oil and oil products.

The punitive measures, which will come into force on Saturday, bring Switzerland in line with sanctions the European Union had announced earlier this month.

The Swiss Economy Ministry issued a statement on Friday saying that "due to the relentless repression imposed by the Syrian security forces, the Federal Council has decided to tighten sanctions against Syria."

Financing and providing insurance or reinsurance services to Syrian petrol suppliers also have been banned under the embargo.

This is in addition to existing embargo on military equipment and goods that could be used in the government crackdown, financial sanctions and travel restrictions on 54 individuals and 12 firms  and freezing of Syrian assets worth around 45 million Swiss franc ($50 million), reports said

However, the measures are not going to affect petrol supplies in Switzerland, which has not imported oil from Syria since 2005.

Meanwhile, reports quoting European Union diplomats say that the bloc has agreed on widening of sanctions on Syria, which will have a strong impact as most Syrian exports go to the European market.

Syria’s state oil marketer Sytrol has issued a tender to sell two cargoes of crude oil for mid-October loading amid U.S. and EU sanctions, traders said on Monday.

"Today, a tender just came in. Syria is offering one cargo of (Syrian) Light and one cargo of Souedie," a trader said.

Each cargo carries 80,000 tonnes of oil, they said.

Syria issues monthly tender to sell its crude oil. Tenders were typically sold to European oil companies and trading houses.

But the traders said European companies were unlikely to participate in the latest tender because of the U.S. and EU sanctions.

"It is a bit tricky this time. I will not participate in the tender myself," one of the traders, who has received an invitation, said.

The European Union, the biggest buyer of Syrian crude oil, banned imports of the country’s oil on Saturday to put economic  while allowing fuel sales to Syria to continue.

However, Syrian crude under existing contracts can be still imported to the EU until November 15.