Brussels, 02/09/2011 (Agence Europe) - On Friday 2 September, the EU Council decided to strengthen its restrictive measures against Syria by imposing an embargo on imports of Syrian oil. This measure concerns the purchase, imports and transport of oil and other oil products, the press release states. Four Syrian individuals will also be added to the list of persons prohibited from stay within the EU and whose assets will be frozen together with those of three new companies. These measures follow the violent crackdown on the civilian population which has left over 2,200 dead according to the latest UN estimates. Other sanctions could follow, hinted French Foreign Minister Alain Juppé, who said on Friday 2 September that “we shall not give up our efforts in Syria to obtain the end of the repression and open democratic dialogue”. Furthermore, France has stated its readiness to develop contacts with the opposition. Despite the immediate effect of the embargo, contracts signed until Thursday 1st September receive a derogation to be implemented until 15 November, the Council tells us. This arrangement is said to have been reached by Italian diplomats wishing to keep current contracts valid, AFP states. The consequences of an embargo on Syrian oil imports, of which 95% are bought by the EU, should have a significant effect on the finances of the regime in Damascus. As the Syrian state controls the two largest oil companies (Syria Petroleum and Sytrol), public finances will be directly affected with a drastic reduction in foreign currency receipts (see EUROPE 10441). (J.K./transl.jl)