Swiss-based Vitol Group, the world’s largest independent oil trader, is preparing to load the first shipment of Syrian crude oil since sanctions on Damascus were lifted. As per sources, the cargo is expected to be delivered to a refinery in Italy.
Syria has resumed oil exports after a major change in international policy. In July, US President Donald Trump signed an order lifting most American sanctions on the country, which had been in place since the 1970s and tightened in 2004 and 2011.
The move is intended to help Syria’s economy recover, but sanctions remain on Bashar al-Assad, his associates, human rights violators, drug traffickers, and groups linked to terrorism, chemical weapons, or Iran.
The order also allows partial relief under the Caesar Act if certain conditions are met, and eases some export and foreign aid restrictions. Two months earlier, the European Union had already removed all remaining economic sanctions on Syria.
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