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EU adopts sanctions on Syrian regime

Sorry, missed this one from late last week – 179 individuals and 54 entities sanctioned by the EU. These sanctions are until June 1, 2014.

From the factsheet, this is the extent of the sanctions on Syria:

  • Prohibition on the import of arms and related material from Syria.D Export restrictions oncertain equipment, goods and technology that might be used for internal repression or for themanufacture or maintenance of such products. The measure includes a prohibition on relatedfinancial assistance as well as insurance and reinsurance.

  • Obligation for member states to inspect vessels and aircraft if there are reasonable grounds tobelieve they carry arms, related material or equipment which might be used for internalrepression. This applies in member states' seaports, airports and in their territorial sea, inaccordance with international law. Items that may not be exported from the EU to Syria mustbe seized.

  • Import ban on crude oil and petroleum products from Syria. The prohibition concerns import,purchase and transport of such products as well as related finance and insurance. The ban alsoincludes a prohibition on related technical and financial assistance. Under certain conditionsand after consultation with the Syrian National Coalition for Opposition and RevolutionaryForces, member states may authorise derogations from this prohibition.

  • Ban on investment in the Syrian oil industry. This covers loans and credits, acquisition orextension of participations and the creation of joint ventures. Under certain conditions andafter consultation with the Syrian National Coalition for Opposition and RevolutionaryForces, member states may authorise derogations from this prohibition.

  • Ban on investment in companies engaged in the construction of new power plants forelectricity production in Syria.

  • Prohibition to participate in the construction of new power plants, including related technicalor financial assistance.

  • Ban on exports to Syria of key equipment and technology for the oil and gas industry. Theban also includes a prohibition on related technical and financial assistance. Under certainconditions and after consultation with the Syrian National Coalition for Opposition andRevolutionary Forces, member states may authorise derogations from this prohibition.

  • The assets of the Syrian central bank within the EU are frozen and it is prohibited to makefunds or economic resources available, but the provision allows for legitimate trade tocontinue under strict conditions.

  • Ban on trade in gold, precious metals and diamonds with Syrian public bodies and the centralbank.

  • Ban on supplying banknotes and coinage to the Syrian central bank.

  • Member states must not give new grants and concessional loans to the Syrian government.

  • Asset freeze on 54 entities and 179 persons responsible for or associated with the violentrepression against the civilian population in Syria or supporting or benefiting from the regime.

    Travel ban on 179 persons responsible for or associated with the violent repression against thecivilian population in Syria or supporting or benefiting from the regime.

  • Export ban on equipment, technology or software primarily intended for monitoring orinterception of the internet or telephone communications.

  • No disbursements and payments in connection with existing loan agreements between Syriaand the European Investment Bank, as well as the suspension of technical assistance contractsrelating to projects in Syria.

  • Prohibition to trade Syrian public or public-guaranteed bonds to or from the government ofSyria or its public bodies and Syrian financial institutions. No brokering or issuing servicesfor such bonds are allowed.

  • Prohibition for Syrian financial institutions to open new branches or subsidiaries in the EU orto establish new joint ventures or new correspondent banking relationships with EU banks.

  • EU banks are prohibited from opening offices or accounts in Syria. Under certain conditionsand after consultation with the Syrian National Coalition for Opposition and RevolutionaryForces, member states may authorise derogations from this prohibition.

  • Member states are to restrain short and medium term financial support for trade with Syria,including export credits, guarantees and insurance. No more long-term support.

  • No insurance or re-insurance to the Syrian government, public bodies, corporations oragencies (except health and travel insurance or compulsory third party insurance for Syrianpersons or entities in the EU).

  • Cargo flights operated by Syrian carriers and all flights operated by Syrian Arab Airlines maynot have access to EU airports.

  • Prohibition to export luxury goods to Syria.

Links:

EU statement

EU position on Syria

Factsheet on Syrian sanctions (does not include listed entities and individuals)

 

Categories: EU Updates Syrian Sanctions

eric9to5

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