EU Sanctions to Hit Total’s Syrian Oil Output

Reuters Africa reported that EU sanctions against Syria is likely to affect TOTAL S.A.’s (NYSE:TOT) operations in the middle eastern country.

As quoted in the market news:

The European Union imposed sanctions on Friday on three Syrian oil firms, including state-owned Syria Trading Oil (Sytrol) and General Petroleum Corporation, as part of its to effort to add financial pressure on the Damascus government over a crackdown on protests.

Total has a 50/50 joint venture with Syrian Petroleum Company (SPC) which is not on the list of companies targeted by the EU sanctions.

Click here to read the full Reuters Africa report.