CAIRO: The European Union is considering imposing new economic sanctions against Syria, including a possible oil embargo, according to officials on Friday. If the sanctions currently under review by a foreign policy committee are passed they will be the fifth set of sanctions imposed by the EU against the Syrian regime that has killed over 2,000 people since the protest movement began on March 15, according to human right groups. An oil embargo would play well with the United States' moves to isolate the government, including the ban on Syrian petroleum products. Roughly 28 percent of Syria's revenue comes from oil, with the majority of it going to Europe. If the EU does join the ban, it would severely cripple the Syrian economy. The EU has imposed travel bans and frozen the assets of 35 Syrian officials, military and police commanders, including President Bashar al-Assad. According to the foreign policy committee's spokesperson, Michael Mann, diplomatic representatives of the 27 member states were looking into adding more to that list but have so far refused to elaborate further. “A number of economic sectors may possibly be added, and that includes oil,” he said. The EU has been quite reluctant to restrict Syrian oil and gas exports in fear of damaging small businesses and harming the public with shortages. Some members have lobbied for banking and telecommunications to be added to the sanctions. On Thursday, the leaders of Britain, Germany, France, Canada, the US and the EU coordinated the release of statements all calling for the resignation of Assad, citing his repression of demonstrations made him unfit to lead. Whether or not these statements will have an effect on Assad, it is the first time such a stance has been taken by Western countries since the beginning of the unrest. BM
