Following the May 9 the European Union announced sanctions against Syria, September 2, the EU began to implement the Syrian oil embargo, the EU sanctions against Syria, not only banned the import of crude oil and petroleum products, but also including oil exports to Syria and related financing Insurance sanctions, the Syrian government tried to completely cut off the lifeblood of the economy after the mid-.11, the EU will implement a comprehensive oil embargo on Syria.

Lock 2, the oil industry the European Commission started an oil embargo sanctions against Syria agreement, including Syria banned the import of crude oil and petroleum products, oil exports to Syria as well as financing and insurance-related sanctions against EU sanctions limit the Syrian authorities hope to sources of funding. EU statistics show that, if calculated according to 2010 figures, the embargo will affect about 45 billion Syrian crude oil exports.

September 2, Syria and the EU announced that several companies on the oil embargo, but the embargo is only for new contracts allegedly forced by the pressure of Italy, the existing oil supply agreement will remain in force until mid-November after which , Syria, the EU will implement a comprehensive oil embargo.

Syria's current oil production of 38 million barrels per day, of which about 15 million barrels for export, 95% are exported to Europe, Syria, in 2010 the oil trade surplus of $ 500 million.


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