• 3 minutes Shale Oil Fiasco
  • 7 minutes "Leaked" request by some Democrats that they were asking Nancy to coordinate censure instead of impeachment.
  • 12 minutes Trump's China Strategy: Death By a Thousand Paper Cuts
  • 16 minutes Global Debt Worries. How Will This End?
  • 1 min americavchina.com (otherwise known as OilPrice).
  • 6 hours Democrats through impeachment process helped Trump go out of China deal conundrum. Now Trump can safely postpone deal till after November 2020 elections
  • 15 hours Forget The Hype, Aramco Shares May be Valued At Zero Next Year
  • 1 day Natural Gas
  • 9 hours Iraq war and Possible Lies
  • 9 hours POTUS Trump signs the HK Bill
  • 21 hours Joe Biden, his son Hunter Biden, Ukraine Oil & Gas exploration company Burisma, and 2020 U.S. election shenanigans
  • 12 hours READ: New Record Conoco Eagleford Vintage 5 wells, their 5th generation test wells . . . Shale going bust . . . LAUGHABLE
  • 2 days 2nd Annual Great Oil Price Prediction Challenge of 2019
  • 2 days Wallstreet's "acid test" for Democrat Presidential candidate to receive their financial backing . . . Support "Carried Interest" . . Leave it alone
  • 2 days Winter Storms Hitting Continental US
  • 1 day Aramco Raises $25.6B in World's Biggest IPO
  • 1 hour Everything you think you know about economics is WRONG!
  • 1 day My interview on PDVSA Petrocaribe and corruption

Breaking News:

Surprise Crude Build Threatens Oil Rally

Alt Text

This Exploration Blind Spot Offers Great Promise

Increasing political unrest and insufficient…

Alt Text

The Fastest Growing Energy Sectors Of 2019

The world saw a significant…

RFE/RL staff

RFE/RL staff

RFE/RL journalists report the news in 21 countries where a free press is banned by the government or not fully established. We provide what many…

More Info

Premium Content

Russia, Iran Face Backlash Over Oil Shipments To Syria

The U.S. Treasury Department has targeted six individuals and three entities that it says are part of an Iranian-Russian network providing millions of barrels of oil to the government of Syrian President Bashar al-Assad and funding the militant groups Hamas and Hizballah.

The Treasury's Office of Foreign Assets Control said on November 20 that Russia facilitated the delivery of Iranian oil to Syria, and that a variety of mechanisms were used in an attempt to conceal the shipments and payments.

"Today we are acting against a complex scheme Iran and Russia have used to bolster the Assad regime and generate funds for Iranian malign activity," Treasury Secretary Steven Mnuchin said in a statement.

Leonid Slutsky, the chairman of the Foreign Affairs Committee in the lower house of Russia's parliament, the State Duma, called the latest U.S. sanctions "absolutely illegal and unlawful."

Russia and Iran have given Assad crucial support throughout the war in Syria, which began with a government crackdown on protesters in March 2011. The conflict has left more than 400,000 people dead, displaced millions, and devastated many historical sites across the country.

Those added to the U.S. list of sanctioned entities and persons include Syrian national Mohammad Amer Alchwiki and his Russia-based company, Global Vision Group, Russia's state-owned company Promsyrioimport, and its deputy director, Andrei Dogayev, who is a Russian citizen, the Treasury said.

The other targets are Iran's Tadbir Kish Medical and Pharmaceutical Company, Iranian nationals Rasoul Sajjad and Hossein Yaghoubi Miab, Syrian national Hajji Abd al-Nasir, and Lebanon national Muhammad Qasim al-Bazzal.

The move blocks any of their assets under U.S. jurisdiction and warns non-U.S. institutions against conducting transactions with them.

By RFE/RL

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage



Leave a comment
  • EHLipton on November 24 2018 said:
    Oooooh! Wonder if the big ole wolf will at least give this same kids glove approach and time in research & investigation as they are giving to the Russia Trump or Hillary Benghazi allegations! Or will alleged allegations of King USA's possible ignored COMMANDMENTS be enough to go blow up those,,,, OTHER KINDS, not like us, people's AND oil producing Fields?
  • Mamdouh G Salameh on November 24 2018 said:
    Russia and Iran are right to ignore US sanctions and provide oil shipments to Syria. Were the United States to end its illegal occupation of large swaths of north-eastern Syria which contains 95% of all Syrian oil and gas potential, then there would be no need for Russia and Iran to provide Syria with oil.

    The US currently occupies around 30% of Syria’s territory including much of the area east of the Euphrates River, encompassing large swaths of the Deir Ezzor, Al-Hasakah and Raqqa regions. 2,000 to 4,000 US troops are stationed in this area.

    North-eastern Syria is an important region owing to its rich natural resources, particularly natural gas and oil. Indeed, this area contains 95% of all Syria’s oil and gas potential including al-Omar, the country’s largest oilfield. Prior to the war, these resources produced some 387,000 barrels a day (b/d) and 7.8 billion cubic metres (bcm) of natural gas annually, and were of great economic importance to the Syrian government. However, more significantly, nearly all the existing Syrian oil reserves – estimated at around 2.5 billion barrels are located in the area currently occupied by US troops and its proxies.

    In addition to Syria’s largest oil field, the US and its proxies in northeast Syria mainly Syrian Kurds also control the country’s largest gas plant which can produce nearly 50 million cubic feet of gas per day and which was originally built and run until 2005 by US oil and gas giant ConocoPhillips, after which Bush-era sanctions made it difficult to continue operating in Syria.

    Syria’s Kurds export oil produced in the Syrian oil fields to Iraqi Kurdistan with which they share a border, and it is then refined and sold to Turkey.

    And yet the US unashamedly impose sanctions on countries providing oil to Syria whose oil and gas fields are occupied illegally by the very country imposing the sanctions.

    Dr Mamdouh G Salameh
    International Oil Economist
    Visiting Professor of Energy Economics at ESCP Europe Business School, London
  • Amvet on November 25 2018 said:
    The sanctions against Syria are endless. Rubbing alcohol imports for hospitals are banned.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play