• 4 minutes Is $60/Bbl WTI still considered a break even for Shale Oil
  • 7 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 11 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 15 minutes Wonders of Shale- Gas,bringing investments and jobs to the US
  • 7 hours IMO 2020 could create fierce competition for scarce water resources
  • 2 hours Evil Awakens: Fascist Symbols And Rhetoric On Rise In Italian EU Vote
  • 19 hours India After Elections: Economy And Hindu Are The First Modi’s Challenges
  • 16 hours IMO2020 To scrub or not to scrub
  • 6 hours Apartheid Is Still There: Post-apartheid South Africa Is World’s Most Unequal Country
  • 13 hours Theresa May to Step Down
  • 6 hours Total nonsense in climate debate
  • 20 hours Old - New Kim: Nuclear Negotiations With U. S. Will Never Resume Unless Washington Changes Its Position
  • 16 hours Devastating Sanctions: Iran and Venezuela hurting
  • 8 hours IRAN makes threats, rattles sabre . . . . U.S. makes threats, rattles sabre . . . . IRAQ steps up and plays the mediator. THIS ALLOWS BOTH SIDES TO "SAVE FACE". Then serious negotiations start.
  • 227 days Epic Fail as Solar Crashes and Wind Refuses to Blow
  • 18 hours Compensation For A Trade War: Argentina’s Financial Crisis Creates An Opportunity For China
  • 14 hours Level-Headed Analysis of the Future of U.S. Shale Oil Industry
Alt Text

War With Iran Could Send Oil To $250

As tensions between Iran and…

Alt Text

The Threat In Iraq Is Being Overblown

As Iraq has been drawn…

Alt Text

Trump’s Dangerous Oil Price Game

Trump’s apparent escalation of the…

Irina Slav

Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

More Info

Trending Discussions

Washington Announces Sanctions On Syrian Oil Industry

The U.S. Department of Treasury announced sanctions against five Syrian companies and four individuals on allegations of facilitating crude oil shipments and financing to the Assad government, Reuters reports, citing a statement by the department.

One of the targets of the sanctions are businessman Muhammad al-Qatirji and a trucking company he owns, that, the Treasury said, facilitated trade in fuels between the Syrian government and Islamic State, even though the government, with the assistance of Russia, is officially fighting this same Islamic State and most of it has been driven out of territories it occupied in Syria previously.

According to the Treasury statement, Al-Qatirji’s company was also involved in weapons shipments from Iraq to Syria.

Another target of the sanctions is a fuel trade network that spans Syria, the UAE, and Lebanon, securing fuel supplies to the war-torn country. One of the companies participating in this network, Abar Petroleum Service SAL, last year took part in the sale of fuels worth US$430 million to the Syrian government.

Two other companies in the network, “Lebanon-based Nasco Polymers and UAE-based Sonex Investments were designated for facilitating shipments to Syrian ports by serving as consignees and chartering the vessels,” the statement also said.

The Syrian army is currently preparing for an offensive against Idlib, the last major rebel stronghold controlled by groups involving radical Islamists recognized as terrorist groups by the international community.

The offensive once again put Washington at odds with Moscow, since Russian forces began bombing the town ahead of the Syrian offensive despite a warning from President Trump that the offensive could end in tragedy. Kremlin spokesman Dmitry Peskov referred to Idlib, to where Russian and Syrian forces earlier in the conflict provided passage for militants from other parts of Syria that government forces took control of, as “a pocket of terrorism” and a problem that needs to be solved.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment
  • Steve on September 08 2018 said:
    The US Empire is certainly expediting the shift away from US dollars in trade through this continual economic warfare. How this all plays out is anyone's guess but more and more countries are bypassing the reserve currency with the US's perpetual bullying.
  • Amvet on October 13 2018 said:
    The sanctions against Syria stink of criminality. Rubbing alcohol cannot be imported. Syrian companies are punished for doing business with a democratically elected Syrian government.

    Clearly the US government, after destroying Syria, is still in the "regime change " mode that has ruined the lives of people in so many countries.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News