The European Union on Friday adopted a ban on crude oil imports from Syria although European companies will be able to fulfil existing supply contracts until November 15, the EU and diplomats said. The EU also expanded the list of individuals targeted by assets freezes and travel bans, adding four Syrian businessmen accused of bankrolling the regime of President Bashar al-Assad, the diplomats said.
Three companies, including a bank, were added to the blacklist as well. "In view of the gravity of the situation in Syria, the (European) 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 EU said in a statement.
"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." The announcement coincided with a key meeting of EU foreign ministers in Sopot, Poland. The measure will deprive Assad''s regime of a vital source of cash, as the EU buys 95 percent of Syria''s crude oil.
Rome had demanded the delay in the application of the sanctions for existing supply contracts between European companies and Syria''s two national energy firms, Syria Petroleum and Sytrol, diplomats said Italy originally wanted the sanctions delayed until November 30, but November 15 was agreed as a compromise.
The EU also put off a decision on whether to ban investments in the oil sector, but such a measure could be enacted in a future set of sanctions, diplomats said. Some 50 people are already named in the EU''s sanctions list, including Assad and three Iranian officials accused of supporting his government. Eight Syrian and Iranian firms or organisations are also blacklisted.
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