The Council of EU decision concerning restrictive measures against Syria

abarrelfullabarrelfull wrote on 08 Sep 2011 15:02
Tags: ina mol syria upstream

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On 02 September 2011 Council of the European Union has passed decisions and has further tightened the EU’s sanctions against Syria and imposed a ban on the import of Syrian oil to the EU. The prohibition concerns purchase, import and transport of oil and other petroleum products from Syria, as well as a ban on providing financial or insurance services for such transactions.

In addition, the Council added four more Syrian persons and three entities to the list of those targeted by an asset freeze and travel ban in Council Decision 2011/522/CFSP and Council Regulation 878/2011. Decisions passed were published in the Official Journal of European Union on 3 September 2011, and are applicable as of that date.

Even though financial institutions have increased the level of their concern, decisions passed by the Councilshould not pose an immediate obstacle to INA petroleum operations in Syria. INA will continue to closely monitor the developments relating to Syria and will provide the public with information on these developments.

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