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(Washington Post) Liz Sly - The decision by Arab states to turn against President Bashar al-Assad represents an important psychological blow to a regime that has long prided itself as a champion of Arab nationalist causes. On Monday, the EU announced expanded sanctions to include 18 more individuals associated with the Assad regime and denial of access to the European Investment Bank. Syrian Economy Minister Mohammad Nidal al-Shaar said last month that the economy is in a "state of emergency." Tourism has skidded to a halt, representing a loss of $2 billion a month, said Adib Mayalah, governor of the Central Bank of Syria. The most serious measure, a European embargo on oil purchases imposed in August, goes into effect on Tuesday. 2011-11-15 00:00:00Full Article
Syria's Economy Is Key to Assad's Future
(Washington Post) Liz Sly - The decision by Arab states to turn against President Bashar al-Assad represents an important psychological blow to a regime that has long prided itself as a champion of Arab nationalist causes. On Monday, the EU announced expanded sanctions to include 18 more individuals associated with the Assad regime and denial of access to the European Investment Bank. Syrian Economy Minister Mohammad Nidal al-Shaar said last month that the economy is in a "state of emergency." Tourism has skidded to a halt, representing a loss of $2 billion a month, said Adib Mayalah, governor of the Central Bank of Syria. The most serious measure, a European embargo on oil purchases imposed in August, goes into effect on Tuesday. 2011-11-15 00:00:00Full Article
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