US Sanctions Syrian State Oil Co. For Selling To Iran

Law360, New York (August 10, 2012, 3:28 PM EDT) -- The Obama administration on Friday hit Syria's state-run oil company with sanctions for conducting business with Iran, saying it was "deeply concerned" about the relationship between the two heavily embargoed countries.

The U.S. Department of State said government-run Sytrol violated the Iran Sanctions Act by selling 33,000 metric tons — or $36 million worth — of gasoline to Iran in April, aiding the Iranian government in its bid for nuclear weapons capabilities.

The ISA and other legislation authorizes the U.S. government to impose sanctions on non-U.S....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.