Latest restrictions for EU

2011.5.12-Bulker.jpgThe EU published Council Regulation (EU) No 36/2012 on 18 January 2012 with immediate effect in a move to further increase sanctions against Syria.

The latest restrictions include the following prohibitions for any EU person:

  • Importing crude oil or petroleum products from Syria or originating in Syria into the EU
  • Selling, supplying or transferring new Syrian banknotes and coins printed in the EU to the Central Bank of Syria
  • Directly or indirectly supplying/exporting equipment or infrastructure or providing technical or financial assistance that could be used for constructing power plants; further details are contained in Annex VII
  • Providing any financial credit or engaging in any joint ventures with Syrian entities which includes exploration/production of crude oil.
  • Providing insurance to the Syrian state or any Syrian public bodies or corporations
  • Directly or indirectly supplying/exporting equipment that could be used for internal repression (as listed in Annex I to the Regulation)
  • Directly or indirectly providing goods and technology listed on the EU 'Common Military List'
  • Directly or indirectly supplying/exporting equipment, technology or software as listed in Annex V and V
  • Directly or indirectly providing technical assistance/brokering services relating to the items listed in Annex V and VI

Full details of the Regulation including the Annexures specifically listing the prohibited items can be found at:

http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2012:016:0001:0032:EN:PDF

Source: The Standard P&I Club