Syrian cuts oil production by 30%
The oil minister of Syria, Sufian Alao, said on Saturday that oil production in his country was reduced by 30 to 35% of its capacity as a result of the international sanctions. The current Syrian oil production is about 260 thousand barrels per day, out of its total capacity of 380 thousand barrels per day.
The European Union (EU) has stepped up its sanctions against the Syrian oil industry, including state-owned enterprises on a blacklist. The Arab League (AL) also imposed sanctions on financial transactions and other dealings with Syria.
European companies are prohibited from acting in Syria, which has led companies such as Shell and Total to stop operating in the country. Also, according to EU sanctions, Royal Dutch Shell and Total announced this month that they would abandon all production activities in Syria.
Now, to sum up with the EU, USA and AL sanctions, the Government of Canada announced over the weekend new sanctions against the Syrian regime, including the embargo on imports of Syrian products, except food. From now on, new investments in this Arab country and the export of equipment and software to monitor telephone and Internet communications are banned. In addition, Canada will freeze all assets of individuals and entities associated with the Syrian regime. (Source: english.nuqudy.com)
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