Egyptian oil company added to EU trade sanctions list

The company has been accused of “providing support to the Syrian regime and benefiting from the regime by organizing covert shipments of oil to the regime,” and will have any assets in the European Union frozen.

Another oil company, Beirut-based Oceans Petroleum Trading, also known as Overseas Petroleum Trading, was also added to the sanctions list on Wednesday for the same charges. Three individuals and seven entities were added for a variety of offenses.

In December, Reuters reported that Syria was receiving crude oil from Iraq via an Egyptian port, allowing the Syrian government to dodge western sanctions. The news agency reported that Tri Ocean was involved in loading Iraqi oil onto at least one shipment bound for Syria, a charge the company has denied.