• 3 minutes Could Venezuela become a net oil importer?
  • 7 minutes Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 12 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 39 mins Could Venezuela become a net oil importer?
  • 2 hours Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 24 mins Tesla Closing a Dozen Solar Facilities in Nine States
  • 5 hours Saudi Arabia plans to physically cut off Qatar by moat, nuclear waste and military base
  • 27 mins Why is permian oil "locked in" when refineries abound?
  • 5 hours EU Leaders Set To Prolong Russia Sanctions Again
  • 17 hours Teapots Cut U.S. Oil Shipments
  • 13 hours Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 8 hours Saudi Arabia turns to solar
  • 2 hours Oil prices going down
  • 2 hours Could oil demand collapse rapidly? Yup, sure could.
  • 1 hour Gazprom Exports to EU Hit Record
  • 22 hours Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 43 mins EVs Could Help Coal Demand
  • 18 hours Hot line, Macron: Phone Calls With Trump Are Like Sausages Best Not To Know What Is Inside
  • 6 hours China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
Shale CEO: U.S. To Be The World’s Top Oil Producer By Fall

Shale CEO: U.S. To Be The World’s Top Oil Producer By Fall

Pioneer Natural Resources chief Scott…

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