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Tag: European Union
EU Embargoes Syrian Oil
As the unrest in Syria continues unabated and the number of civilian deaths grows — now over 2,200, according to the United Nations — the international community has begun to increase pressure on Syrian President Bashar al-Assad. On Saturday, the European Union instituted a ban on petroleum imports from Syria (although a full ban won’t be instituted until November, as Italy lobbied to allow existing import contracts be fulfilled). The United States has already instituted its own oil ban, but the EU’s actions will likely have a more significant effect on Syria’s economy. While the United States does not directly…