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(Wall Street Journal) Nour Malas, Marc Champion, and Jay Solomon - The U.S., aiming to weaken the Assad regime's financial network, on Wednesday sanctioned Syria's largest commercial bank and its largest telecommunications company. The Treasury action bars any U.S. business with the Commercial Bank of Syria and Syriatel, which is controlled by Assad's cousin, Rami Makhluf. U.S. officials said the sanctioning of the bank could significantly impair Damascus' ability to sell crude oil, as most of its oil sales are conducted through the bank. The U.S. also charged the bank with facilitating arms deals between Syria and North Korea. 2011-08-11 00:00:00Full Article
U.S. Adds Sanctions on Syria
(Wall Street Journal) Nour Malas, Marc Champion, and Jay Solomon - The U.S., aiming to weaken the Assad regime's financial network, on Wednesday sanctioned Syria's largest commercial bank and its largest telecommunications company. The Treasury action bars any U.S. business with the Commercial Bank of Syria and Syriatel, which is controlled by Assad's cousin, Rami Makhluf. U.S. officials said the sanctioning of the bank could significantly impair Damascus' ability to sell crude oil, as most of its oil sales are conducted through the bank. The U.S. also charged the bank with facilitating arms deals between Syria and North Korea. 2011-08-11 00:00:00Full Article
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