SYRIA: Oil minister Sufian Alao says the country's oil industry has lost 4 billion USD due to sanctions and has not exported any crude oil in the first quarter of 2012

Record ID: 280781

  • Title: SYRIA: Oil minister Sufian Alao says the country's oil industry has lost 4 billion USD due to sanctions and has not exported any crude oil in the first quarter of 2012
  • Date: 24th May 2012
  • Summary: DAMASCUS, SYRIA (MAY 23, 2012) (REUTERS) WIDE OF NEWS CONFERENCE WITH SYRIAN OIL MINISTER SUFIAN AL ALAO SEATED AT TABLE A JOURNALIST WRITING SUFIAN AL ALAO, SYRIAN OIL MINISTER, TALKING DURING THE NEWS CONFERENCE CAMERAS (SOUNDBITE) (Arabic) SYRIAN OIL MINISTER, SUFIAN AL ALAO, SAYING: "In 2011 and the first quarter of 2012, we imported more than 3,5 billion USD, pa
  • Embargoed: 8th June 2012 13:00
  • Keywords:
  • Location: Syrian Arab Republic
  • Country: Syria
  • Topics: International Relations,Politics,Energy
  • Reuters ID: LVA9DHJ9PJGB93PLMSSKS9IJJ9BC
  • Story Text: Syria's oil industry has lost around 4 billion USD due to sanctions imposed in September which banned crude oil imports from the country, Syrian oil minister Sufian Alao said on Wednesday (May 23).
    Syrian state news agency SANA quoted him as saying that the loss was a result of "unjust European and American sanctions and impediments."
    Speaking at a news conference in the capital Damascus, Alao said Syria had not exported any crude oil in the first quarter of 2012.
    "In 2011 and the first quarter of 2012, we imported more than 3,5 billion USD, paid from the general treasury, however we have not exported any barrels of crude oil."
    Alao added that despite the losses, Syria had received an oil tanker from Venezuela and was anticipating a further shipment soon.
    "A ship coming from Venezuela, carrying 35 tonnes of Diesel, arrived two days ago. This is the third shipment from Venezuela. We also have contracts with Venezuela to import additional shipments pursuant to the availability of ships and the long distance. The fourth shipment is ready in Venezuela. It will be loaded soon," Alao said.
    International sanctions have been imposed on Syria as violence continues to plague the country after 14 months of popular unrest against President Bashar al-Assad's regime.
    In a report addressed to the Human Rights Council and the U.N. Secretary General, the Syrian Foreign Ministry stated it considered the sanctions imposed on the country as "economic terrorism" that affects the citizens and not the regime.
    Last week the EU decided to extend sanctions in view of continued violence despite the presence of a U.N. observers mission in the country which aims to end the crisis.
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