New Syrian government not immune to EU sanctions

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ARA News 

Damascus, Syria – The European Union approved new sanctions against the Syrian regime on Monday.

The EU targeted 16 figures close to President Bashar al-Assad and accused them of involvement in repression against civilians, diplomatic sources reported.

The sanctions adopted by the EU’s foreign ministers in Luxembourg targeted 11 ministers in the Syrian government, established by President Assad in August, as well as 5 other figures in the regime.

The decision stipulated that the sanctions included freezing financial assets and preventing these figures from traveling to EU countries “because of their participation in repression against civilians and their political support of the Syrian regime”.

The EU approved earlier in 2013 sanctions against the Syrian regime, including arms embargo and freezing assets in the Central Bank in Europe, as well as preventing the export of luxury goods into Syria.

Noteworthy, the Syrian economy is suffering from inflation rates, especially after the regime’s loss of oil-rich areas.

The Islamic State group (IS/ISIS), an al-Qaeda offshoot, took control of major oil fields in the eastern and northeastern areas of the war-torn country.

The regime of Assad has so far spent 130 billion dollar on the three-year-old war against the armed opposition, Syrian economists reported. The war has led to a decline in foreign exchange reserves at the Syrian Central Bank to less than 4 billion dollars, as well as a remarkable devaluation of the Syrian currency.

The deteriorating economic situation in the country has overshadowed the daily life of the citizens who continue to suffer under harsh living conditions.

 

Reporting by: Mohammed Darwish

Source: ARA News

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