Syria

There are extensive EU and US sanctions in place in response to concerns over human rights abuses, which include asset freezes imposed on named persons/entities, trade embargoes and restrictions targeting key sectors of the economy.

EU sanctions

It is prohibited (under EU Reg. 36/2012, Reg. 168/2012 and Reg. 1323/2014) to

provide equipment/technology used for internal repression in Syria
supply key equipment/ technology for the Syrian oil and gas industry
purchase or import crude oil or petroleum products from Syria (or to provide insurance for such trades)
supply equipment used to construct Syrian electrical power plants
supply jet fuel or jet fuel additives (or to provide insurance for such trades)
supply luxury goods or trade in gold/precious metals

US sanctions

It is prohibited (under Executive Order 13582) to:

export or supply any services to Syria from the US or by a US person
import Syrian-origin petroleum or petroleum products into the US.

Furthermore, the property of any person in the US who has ‘materially assisted’ (ie provided good/services etc) to the Syrian Government will be 'blocked' (ie subject to an asset freeze).

Reminder for due diligence

We advise members to carefully consider the impact of sanctions should they decide to trade to Syria and strongly recommend seeking independent legal advice. Members are reminded of the need to exercise due diligence to ensure that the trade or operation is not subject to sanctions and that they do not trade with individuals or entities that are named on the EU or US sanctions lists.