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EU Sanctions on Syria
The following memorandum provides information on the EU’s latest efforts to sanction Syria.
- Following Washington’s lead, 27 members of the European Union recently imposed sanctions on Syria, banning imports of Syrian crude oil and petroleum products in an effort to pressure Assad to step down or stop the killing of protestors.
- Europe consumes almost 95 percent of Syria’s oil exports, which amount to between 25 and 33 percent of the Syrian government’s budget. European energy sanctions against Syria could have a significant impact on the regime.
- Loopholes in the current EU sanctions law allow European energy companies to continue their operations in Syria. Thus, the EU has placed an embargo on direct imports of Syrian crude oil, but still permits European energy companies to continue producing and developing Syrian gas and oil.
- The EU decided not to cut tech transfers to and future investments in Syrian oil and natural gas allowing the Syrian government to sustain current production.
Please download the PDF below to view the whole memorandum.