New U.S. Sanctions against Syria
On the 18th
August 2011, the US Government issued an Executive Order that blocks property of the Syrian government, including all entities controlled by the Syrian government. The Executive Order prohibits exportation, sale or supply of services from the United States to Syria. Imports into the United States of Syrian-origin petroleum and petroleum products are also prohibited. Under the Executive Order U.S persons* are forbidden to:
undertake new investment in Syria;
export, re-export, sell or supply services to Syria from any location;
engage in dealings in or related to Syrian-origin petroleum or petroleum products; or
approve, finance, facilitate or guarantee any transaction by a foreign person if U.S. persons are prohibited to participate in such a transaction.
In addition, the U.S. Government has blocked property of the following Syrian petroleum companies :
General Petroleum Corporation: The state-owned company that controls Syria’s oil and gas industry and is responsible for the exploration, development and investment of Syria’s oil and gas exploration activities.
Syrian Petroleum Company: An entity that is responsible for upstream oil production and development in Syria.
Syrian Company for Oil Transport: An entity that manages Syria’s domestic pipeline system and is responsible for transporting all Syrian crude and petroleum products. Syrian Company for Oil Transport manages Syria’s three major oil export/import terminals: Baniyas, Tartous and Latakia.
Syrian Gas Company: An entity that is responsible for processing, transporting and marketing Syria’s natural gas.
SYTROL: Syria’s state oil marketing firm, which is responsible for selling Syrian crude to foreign buyers.
These entities join previously blocked Syrian individuals and entities on the Treasury Department's Office of Foreign Assets Control List of Specially Designated Nationals.*The measures define "U.S. person" to include any citizen or resident of the United States, any entity organized under U.S. law, and any individual or entity in the United States.
The UK Club is grateful to Mr Melvin Schwechter of Dewey & LeBoeuf LLP for providing the information on Syrian sanctions. If Members would like more information they can contact Mr Schwechter viaemail
or their usual Club contact.
You may also be interested in:
Members’ attention is drawn to an Advisory to the Maritime Petroleum Shipping Community issued by the U.S. Department of the Treasury’s Office of Foreign Asset Control (“OFAC”) on November 20, 2018 setting forth a strong warning against transporting petroleum to the Syrian Government. This Advisory has been received from U.S. Lawyers, Freehill, Hogan and Mahar.
To promote safety and avoid maritime pollution, the Ghana Maritime Authority (GMA) has issued this shipping notice laying out the mandatory procedures for the transfer of oil and other substances.
Sanctions: Treasury Increases Pressure on Cuba to End Support to Maduro by Imposing Further Oil Sector Sanctions
Further to our Web update of 9th April 2019 on Venezuelan Sanctions , Members whose trade involves Venezuela should be aware that OFAC has recently added to the SDN list four ship owning companies and nine vessels...
The U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) has continued to focus on international shipping as a means to implement the Iranian sanctions program and has now turned its attention to the bunkering of vessels engaged in Iranian trade or involving Iranian vessels.