EU lifts Syria oil embargo

EU lifts Syria oil embargo
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Published April 23rd, 2013 - 10:52 GMT via

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The EU has eased its sanctions on Syria in an effort to boost the rebels
The EU has eased its sanctions on Syria in an effort to boost the rebels
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The EU has decided to lift its oil embargo on Syria, as well as its sanctions on Myannar. The decision was announced by European Union foreign ministers meeting in Luxembourg. Andrew Dupuis has more.

EU foreign ministers on Monday agreed to ease oil sanctions on Syria.

The decision allows for crude exports from rebel-held territory and the import of oil production technology.

Catherine Ashton, EU's High Rep. for Foreign Affairs, said, "We discussed, of course, the situation in Syria and, because the humanitarian situation is extremely alarming, the (European) Council today adopted a decision that will allow the Syrian National Coalition to take advantage of the oil and gas reserves under its control."

EU foreign ministers also dropped political and economic sanctions against Myanmar.

The decision is intended to support what officials called the country's "remarkable process" of democratic reforms...

"And today we closed a very long chapter in our relations with Myanmar by lifting the political and economic sanctions. Only the arms embargo remains in place. We don't underestimate the challenges. But we believe that now it is time to engage more and to help the transition move ahead." said Catherine Ashton.

EU officials say the sanctions' permanent abolition will encourage strengthened ties between the bloc and Myanmar.

The EU promises to look at the feasibility of a bilateral investment agreement, and development assistance, to help Myanmar's economy. 

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