Royal Dutch Shell will end its operations in Syria, the first European oil major to exit the violence-ridden country, the Financial Times reports. The company’s announcement on Friday came after the European Union imposed sanctions on three Syrian state-owned oil companies, which act as the local partners of various foreign oil companies. The moved is aimed at forcing Syria to curtail its oil production, delivering a considerable financial blow to the government of Bashar al-Assad. Other European oil giants, including France’s Total, are expected to leave Syria as well, while Chinese and Indian companies remain unaffected by EU sanctions.
Shell to exit Syria
Oil giant forced out by EU sanctions
FILED UNDER: Sanctions on Syria