EU to Expand Syria Sanctions

By LAURENCE NORMAN BRUSSELS–The European Union reached a fresh deal Wednesday to broaden sanctions on Syria that include an oil embargo, paving the way for what could prove the most significant step taken against the regime of President Bashar al-Assad over his crackdown on protesters. Member states agreed to give companies with existing oil import contracts until Nov. 15 to comply with an oil embargo, diplomats said. The original deal proposed that temporary exemptions for oil companies expire Oct. 30. Besides the embargo on oil imports, other measures include the withdrawal of technical assistance for European Investment Bank projects, and a change in the legal basis of the sanctions <a href="http://www.cheappumashoesonline.com/womens-puma-basket-brights-white-deep-blue-p-328.html"><strong>Women's Puma Basket Brights White Deep Blue</strong></a> so the EU in the future can target those benefiting from or supporting the regime, not just those implicated <a href="http://www.thomassabocheap.com/thomas-sabo-black-shopper-pendant-p-282.html"><strong>Thomas Sabo Black Shopper Pendant</strong></a> in the violence. Around 95% of Syrian oil exports go to the EU, providing a significant portion of the regime's revenues. The sanctions won't include a ban on European companies investing in the Syrian energy sector, a measure that could be adopted in future rounds, diplomats said. There was also a deal reached Tuesday to target four new individuals and three companies with an asset freeze and travel ban. This measure is likely to take effect Friday, when EU foreign ministers meet in Poland. One diplomat said the oil embargo and other measures could also be approved as early as Friday. But a second official said they may take effect over the weekend. Sanctions are only formally implemented when they are published in the EU's Official Journal. Anglo-Dutch major Royal Dutch Shell PLC, France's Total SA and Hungarian firm MOL Nyrt are the only European firms with significant production interests <a href="http://www.suprasforcheap.com/supra-051-mens-black-and-red-p-262.html"><strong>supra 051 mens black and red</strong></a> in the country. The EU has already slapped sanctions on 50 individuals and nine entities as part of its response to the Syrian crackdown. That includes several Iranian citizens and the Tehran-based IRGC Qods Force--also known as Quds Force--a specialist arm of the Iranian Islamic Revolutionary Guard that the EU says has provided technical assistance to Syria's security services. Write to Laurence Norman at laurence.norman@dowjones.com