Suncor: Ottawa sanctions won’t affect Syria project

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Canadian oil giant Suncor said Thursday that new sanctions announced on Syria this week by Ottawa would not affect its gas project in the country in collaboration with the Damascus government.

"The recent Canadian sanctions are similar to those imposed by the European Union last week," Suncor said, adding that "the new Canadian sanctions relate to our industry, but allow existing operations and agreements to continue (including the operations of the Ebla development, which primarily produces natural gas used within Syria)."

Suncor is working with Syria’s state-owned General Petroleum Corporation on a $1.2 billion gas project in central Syria.

Suncor said the company "is, and will remain, compliant with all applicable sanctions on Syria."

"The sanctions prohibit the purchase of oil or petroleum products from Syria or investing in Syria’s oil industry.

Canada also added 27 people said to be close to Assad and 12 entities linked to his regime to a list of people or companies facing sanctions, bringing the total of those entities targeted to 77.

Those measures include a travel ban and assets freeze.

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