Royal Dutch Shell oil pulling out of Syria

[pampango]

Source: Christian Science Monitor

Royal Dutch Shell said on Friday it would cease operations in Syria Syria to heed new European Union sanctions against Damascus, deepening the international isolation of President Bashar al-Assad imposed over his violent crackdown on popular unrest.

Western and Arab countries have been intensifying punitive sanctions to press Assad to carry out pledges to halt bloodshed by withdrawing forces from restive cities, admitting Arab League observers and starting transition talks with the opposition.

Royal Dutch Shell said it would be shutting down in Syria to comply with EU sanctions slapped on Syria's economically vital oil and financial sectors the day before. A Shell spokesman said: "Our main priority is the safety of our employees ... We hope the situation improves quickly for all Syrians."

The EU on Friday extended sanctions to three Syrian oil concerns, including the state-owned General Petroleum Corporation (GPC) and Syria Trading Oil (Sytrol), to crank up the financial pressure on the Assad government.



Read more: http://www.csmonitor.com/World/Latest-News-Wires/2011/1202/Why-Royal-Dutch-Shell-oil-is-pulling-out-of-Syria

[Turbineguy]

1. Does Assad lose his job over this?

No, but ordinary Syrians do.

What kind of sanctions would Supply-Side Jesus impose? (It's a rhetorical question)

[Muskypundit]

2. We must be pulling oil companies out of syria for oil.

[Arctic Dave]

3. Doesn't really mean much, it's the service companies that actually do the work.

RDS just coordinates it all. What would be funny is if Syria creates its own company and cuts out the middleman.