EU Bans Investment In Syrian Oil Industry

Law360, New York (September 23, 2011, 6:28 PM EDT) -- The European Union banned investment in the Syrian oil industry Friday as Russia continued to oppose EU and U.S. efforts to issue multilateral sanctions through the United Nations over the Assad government's efforts to repress protesters.

The new ban keeps European entities from investing in Syrian businesses involved in the exploration, production and refining of crude oil whether at home in Syria or abroad, the EU Council said Friday. The rule, which strengthens the EU's existing sanctions, covers both acquiring stakes in Syrian operations and starting...
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