Syria: oil sanctions on the horizon

07 July 2011

SYRIAN opposition efforts to cut a big funding lifeline to President Bashar al-Assad’s regime may be about to yield fruit. European buyers of Syria’s Souedie crude are considering a boycott of the heavy oil that can be refined only in the Netherlands, Italy, Spain and France.

Anti-Assad forces have focused on the oil and gas sector as a crucial pressure point for a government that has been starved of its only alternative source of hard currency earnings – tourism – since widespread unrest hit Syria in mid-March.

Ausama Monajed, of the National Initiative for Change, claimed a boycott of oil exports would deprive the government of up to $8 million a day in earnings. “That revenue goes straight to the prime minister’s office making it easy to direct it to military and...



Please log in to read the rest of this article.

Note: If you subscribe to PE Unconventional and wish to read this article, you will need to upgrade your subscription to include Petroleum Economist. Please contact Alastair Noakes on +44 (0) 207 779 8007 for full details.

New to Petroleum Economist? Take advantage of one week's free access - register here

Login here


You  must login to read the rest of the article.


Login

Join us now


Gain 7 days FREE access when you register now


Join here

Related Articles




Latest issue: April 2014

Venezuela on the brink

A YEAR after the death of Hugo Chávez, the movement he left behind is fighting for its survival without its comandante.


View online now