• EU Imposes Additional Economic Sanctions against Syria Additional Designations and Clarifications of US Sanctions
  • September 16, 2011 | Authors: David W. Addis; Georg M. Berrisch; Peter L. Flanagan; Corinne A. Goldstein; Peter Lichtenbaum; Lisa Peets; Kimberly A. Strosnider
  • Law Firms: Covington & Burling LLP - Washington Office ; Covington & Burling LLP - Brussels Office ; Covington & Burling LLP - Washington Office ; Covington & Burling LLP - London Office ; Covington & Burling LLP - Washington Office
  • On September 2, 2011, the Council of the European Union (“EU Council”) adopted Council Regulation (EU) No 878/2011, imposing additional restrictive measures against Syria in view of the Syrian government’s ongoing repression of protestors. Regulation 878/2011 prohibits the purchase, import and transportation of crude oil and petroleum products from Syria. Importantly, these prohibitions are subject to grandfathering clauses, outlined below. In addition, Regulation 878/2011 expands the criteria used to determine which parties shall be subject to an asset freeze and/or other sanctions, and adds four individuals and three entities to the designated parties list.