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Wednesday, 12 May 2021

EU mulls help to Syria opposition by easing oil embargo

EU ministers will decide next Monday on easing its oil embargo against Syria on a case-to-case basis in an attempt to help the opposition

AFP , Wednesday 17 Apr 2013

The European Union is considering a case-by-case easing of its oil embargo against Syria in order to help the opposition, diplomatic sources said Wednesday.

A decision, which would be formally agreed by EU foreign ministers at talks next Monday in Luxembourg, would enable EU companies to import oil on a case-by-case basis from areas under opposition control, the sources said.

It would also allow a resumption of EU investments and export of equipment intended for the oil and gas sector.

The 27-nation bloc slapped a ban on investments in Syrian oil in September 2011 followed by a ban on imports of oil in December.

Syria's largest oil reserves are in Deir Ezzor in the east of the country.

Syria's production of some 420,000 of barrels of oil a day has been sliced in half since the United States and the European Union banned the import of Syrian petroleum.

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