US imposes fresh sanctions on Syria oil sector
LONDON: The Obama administration on Thursday imposed fresh sanctions on Syria's government, freezing assets in the United States as well as banning petroleum products of Syrian origin.
The latest round of sanctions against Syrian President Bashar al-Assad and his government prohibit US entities, wherever located, from engaging in any transactions or dealings with Syrian petroleum products.
Syria's oil production declined from 581,000 bpd in 2001 to 375,000 bpd in 2009, according to BP data, but recovered to 385,000 bpd in 2010 after new fields started up.
The country also imports refined oil products normally via regular tenders and exports products occasionally.
Following are the views from analysts about implications for the oil market and their views on whether the EU to would follow the United States or not.
Copyright Reuters, 2011
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