According to Agence France-Presse with reference to diplomatic sources, the European Union imposed ban on imports of Syrian oil on September 2, in response to President Bashar al-Assad’s refusal to stop military operations against the opposition.
At Italy’s request, ban will come into force on November 15, 2011, for contracts made previously. Some 95% of Syrian crude oil is imported to the EU countries. The United States already imposed embargo on Syrian oil. Syria gets estimated $4 billion from oil exports annually.
Besides embargo on oil imports, the EU and the U.S. imposed other sanctions on Assad’s regime. These include freezing of Syrian assets and banning several Syrian officials involved in crackdowns from travelling in the U.S. and the EU.
Opposition protests started in Syria in March 2011. Even after Bashar al-Assad promised the UN Secretary General Ban Ki-Moon to stop all military operations, crackdowns were going on in many cities.
