Subjects – Syria Report



On the eve of the Syrian conflict, half a dozen Western oil companies were active in Syria. Among these, Royal Dutch Shell and Total E&P, were the major players. However, the country’s descent into chaos and the subsequent imposition of Western sanctions on the oil sector led to the freezing of their activities. By the end of 2012, all Western companies had suspended their operations in Syria, declaring force majeure and freezing their assets.
Syria recently announced plans to apply for membership in the BRICS economic bloc in hopes that its entry would lessen its dependence on the U.S. dollar, facilitate investments in the country, and allow it to bypass sanctions.