Extension of Syrians named as parties in sanctions by EU
Council Regulation (EU) No. 950/2011 on 24th September adds further names (six entities and two individuals) to the Syrian designated persons list and a prohibition on investment in the crude oil sector. The entities are Addounia TV, Cham Holding, El-Tel Co, Ramak Constructions Co, Souruh Company and Syriatel. The individuals are Tayseer Qala Awwad and Dr Adnan Hassan Mahmoud.
The Council of the European Union has amended EU Regulation 442/2011 concerning restrictive measures in view of the situation in Syria, with the intention of ensuring uniform application of those measures by economic operators in all member states. The amendments include:
- Defining 'Syrian person, entity or body'
- Prohibiting the sale, supply, transfer or export of new Syrian denominated banknotes and coinage, printed or minted in the EU, to the Central Bank of Syria
- Prohibiting the granting of any financial loan or credit, acquisition or extension of participation, and creation of any joint venture with any Syrian person, entity or body engaged in the exploration, production or refining of crude oil
- Replacing Article 10a with the prohibition of any claims or compensation related to a contract or transaction affected directly or indirectly in whole or in part by the measures imposed by this Regulation to the Government of Syria, its public bodies, corporations, and agencies or to any person or entity claiming through it or for its benefit.
Full details are set out in the Regulation, which is attached.
7510 - CouncilRegulationEU_950_2011 547 KB
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