EU imposes further sanctions against Syria (with more likely to come)

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I. Introduction

On 1 December 2011, the Council of the European Union (EU) considerably expanded its existing regime for economic sanctions against Syria when it adopted Council Decision 2011/782/CFSP which introduces or strengthens sanctions applicable to telecoms, oil & gas, electric power plants and the financial sector, and Council Implementing Regulation 1244/2010 to add parties to the EU’s existing asset freeze list (both published in the EU’s Official Journal on 2 December 2011).

In accordance with the scope of EU jurisdiction established in the EU’s original Syria Sanctions Regulation (i.e. Regulation 442/2011), the expanded sanctions regime will apply to EU territory, nationals of EU Member States (regardless of whether they are inside or outside the EU) and vessels and aircraft under Member State jurisdiction. It will also apply to companies incorporated or doing business in a Member State.

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Published In: Administrative Agency Updates, Energy & Utilities Updates, Finance & Banking Updates, International Trade Updates, Transportation Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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