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MENA unrest - Sanctions bite as Shell quits Syria
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Monday, 05 Dec 2011
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Gulf News reported that Royal Dutch Shell would cease operations in Syria to heed new European Union sanctions against Damascus for its violent crackdown on popular unrest.

Royal Dutch Shell said that it would be shutting down in Syria to heed a batch of EU sanctions slapped on Syria's economically vital oil and financial sectors the day before.

A Shell spokesman said that "Our main priority is the safety of our employees. We hope the situation improves quickly for all Syrians."

The EU extended sanctions to three Syrian oil concerns including the state owned General Petroleum Corporation and Syria Trading Oil to crank up the financial pressure on President Bashar Al Assad's government.

(Sourced from Gulf News)

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