US Treasury Sanctions Syrian Refineries

Syria’s Banias and Homs refineries are among the targets of the latest round of US Treasury Department sanctions intended to undermine Bashar al-Asad’s regime in Damascus.

The new ruling “builds on Treasury’s ongoing efforts to apply economic pressure on the Syrian government by choking off access to the international financial system,” according to an 8 May statement.

The main target is Russia’s Tempbank, which the US Treasury says has provided millions of dollars in cash and facilitated financial services to the Syrian regime. The bank’s Syrian dealings include brokering deals for state oil marketing firm Sytrol, already sanctioned by the US and EU. (CONTINUED - 270 WORDS)