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EU Sanctions Syrian Oil, Cuts Off Major Revenue Source for Regime

Sasha Mordovets/Getty Images(BRUSSELS) -- The European Union announced Friday new sanctions against Syrian oil, which in effect cuts off a major revenue source for the regime of President Bashar al-Assad.

Here is the full notice from the Council of the European Union:

In view of the gravity of the situation in Syria, the Council today further tightened the EU's sanctions against that country 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. No financial or insurance services may be provided 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 pursuant to decision 2011/273/CFSP (1) and regulation 442/2011 (2). At the same time, the Council introduced an exemption to the asset freeze for humanitarian purposes, e.g. for the delivery of medical supplies, food or the evacuation of foreign nationals from Syria.

The arms embargo imposed on Syria on May 9 continues to remain in place. Today's decisions were adopted by written procedure. Together with the list of the additional designations, they will be published in the Official Journal on September 3, 2011.

Copyright 2011 ABC News Radio

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