EU braces for tougher sanctions on Syria

BRUSSELS (A.A) - December 1, 2011 - European Union is poised to deal another severe blow to Syria by targeting a state-run oil company in the country as Damascus insists on violent crackdown on an eight-month-old pro-democracy uprising in the country. EU foreign ministers are expected to gather in Brussels later on Thursday to discuss more severe punishments for the Syrian regime which might include having the Syrian General Oil Corporation on the black list.  That would mean cutting of a major source of finance for the Syrian government as the move would effectively shut down the Dutch oil giant Shell's and French Total's operations in Syria to send production way below 250 thousand barrels a day.  Sources close to the issue have said the EU countries had come to an understanding over the far-reaching sanctions which might also include barring European companies from bidding in Syrian energy projects, suspension of European insurance companies' operations except for health insurance policies as well as travel ban on and freezing assets of more people within the Syrian regime.   The EU has so far included 74 people and 19 corporations in Syria on its black list as well as imposed an arms embargo and halted selling oil.