Syria has been hit by further sanctions as the European
Union slaps measures on a three oil companies. The measures are due to ongoing political and social
upheaval in the Middle Eastern oil-producing country which has led
international governments to heap pressure on the regime of President Bashar
al-Assad.
Syria Trading Oil Company (Sytrol) is one of the companies
newly sanctioned by the EU on Friday. A Council statement said the state-owned
entity is “responsible for the entire export of oil from Syria” and accused it
of providing financial support for the regime.
General Petroleum Corporation (GPC), another state-owned
outfit, has also been hit with the EU Council also saying it bolsters the
regime financially.
Al Furat Petroleum, a joint venture company 50% owned by
GPC, was the third to be hit with sanctions on Friday, also for providing the
regime with financial support.
Oil production in Syria has dwindled following the onset of
the Arab Spring in the country which has led to intense, bloody fighting
between government forces and protesters seeking democratic change.