Oil Trade Links to Syria Cut Ahead of Embargo

Source:

"Industry executives said that several traders and foreign oil companies had over the past few days quietly stopped dealing with Syria."

Financial Times, Javier Blas and Sylvia Pfeifer

The world's largest oil traders and international oil companies are severing their trade links with Syria as the European Union prepares to impose an oil embargo, depriving the regime of Bashar al-Assad of diesel supplies and oil revenues.

Vitol, Trafigura, BP, Royal Dutch Shell and Total are either major buyers of Syrian crude, which mostly supplies European refineries, or sellers of refined products, such as diesel and gasoline, to Damascus. Industry executives said that several traders and foreign oil companies had over the past few days quietly stopped dealing with Syria, refusing to take new contracts to export or import. . .View Full Article

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