• 5 minutes Mike Shellman's musings on "Cartoon of the Week"
  • 11 minutes Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 17 minutes WTI @ 67.50, charts show $62.50 next
  • 2 mins The Discount Airline Model Is Coming for Europe’s Railways
  • 19 hours Newspaper Editorials Across U.S. Rebuke Trump For Attacks On Press
  • 14 hours WTI @ 69.33 headed for $70s - $80s end of August
  • 6 hours Pakistan: "Heart" Of Terrorism and Global Threat
  • 18 hours Batteries Could Be a Small Dotcom-Style Bubble
  • 1 day Corporations Are Buying More Renewables Than Ever
  • 5 hours Saudi Fund Wants to Take Tesla Private?
  • 9 hours Venezuela set to raise gasoline prices to international levels.
  • 6 hours Scottish Battery ‘Breakthrough’ Could Charge Electric Cars In Seconds
  • 15 hours Starvation, horror in Venezuela
  • 5 hours Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 20 hours Don't Expect Too Much: Despite a Soaring Economy, America's Annual Pay Increase Isn't Budging
  • 21 hours France Will Close All Coal Fired Power Stations By 2021
The Real Leader In Global Energy Production

The Real Leader In Global Energy Production

Last week President Trump was…

EU to Ease Syrian Sanctions and Allow Purchase of Oil from Opposition

On Wednesday, European diplomats announced that they will ease sanctions against Syria so that European companies can begin to buy oil the rebel opposition forces.

When the uprising against President Bashar al-Assad began back in 2011, the EU first placed a ban on all purchases of Syrian oil, and whilst they were reluctant to openly support the rebel cause, they did add more sanctions to restrict al-Assad’s revenues. Current sanctions include a ban on all Syrian oil imports to Europe, an arms embargo, and a ban on all investment in the Syrian energy sector.

Relaxing sanctions will allow Europe, Syria’s biggest customer before the start of the rebellion, to begin purchasing crude from the opposition, as well as invest in the oil country’s oil sector.

Related article: Syria: When is Enough, Enough? When the Oil becomes “Islamized!”

Whilst still unwilling to give direct aid to the opposition, this is the strongest support shown by the European Union to the rebel cause, and will provide much needed cash to continue the fight to bring down al-Assad’s regime.

The idea of supplying arms to the opposition in Syria has still been rejected, but the cash earned from oil exports should provide the financial means to buy weapons from other countries.

By. Charles Kennedy of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

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