LUXEMBOURG — The European Union on Monday lifted its oil embargo on Syria to provide more economic support to the forces fighting to oust President Bashar Assad’s regime.
The decision will allow for crude exports from rebel-held territory, the import of oil and gas production technology, and investments in the Syrian oil industry, the EU said in a statement. Any export or investment initiatives will be taken in close coordination with the leaders of the Syrian opposition, the bloc’s 27 foreign ministers decided at a meeting in Luxembourg.
While Syria was never one of the world’s major oil exporters, the sector was a pillar of Syria’s economy until the uprising, with the country producing about 380,000 barrels a day and exports — almost exclusively to Europe — bringing in more than $3 billion in 2010.
