The European Union is expected to announce new sanctions against Syria on Friday, AFP reported.
The new sanctions will include a ban on Syrian oil imports and will see the expansion of the EU’s list of people targeted by an assets freeze and travel ban. Four new businessmen accused of bankrolling the regime of President Bashar Assad will be added to the list, diplomats told the French news agency on Thursday.
As well, three companies, including a bank, will see their assets in the EU frozen as punishment for the regime's deadly repression of protesters, the sources said on condition of anonymity.
The announcement of the oil embargo will coincide with a key meeting of EU foreign ministers in Poland, AFP said, noting the measure will deprive Assad’s regime of a vital source of cash, since the EU buys no less than 95 percent of Syria’s crude oil.
The only setback is a delay obtained by Rome in the application of the sanctions for existing supply contracts between European companies and Syria’s two national energy firms, Syria Petroleum and Sytrol.
“The Italians insisted for a delay so as not to disrupt (European importers) too much,” one diplomat told AFP. As a result of Italy’s request, the sanctions for existing contracts will not be applied until November 15.
About 50 people are already named in the EU’s sanctions list, including Assad himself and three Iranian officials accused of supporting his government. The new measures must be validated by European governments before taking effect.