Amendments to the Syria sanctions framework

In accordance with regulation 5D of the Autonomous Sanctions Regulations 2011 (the Regulations), the Minister for Foreign Affairs (the Minister) has by legislative instrument suspended sanctioned commercial activity in relation to:

Syrian entities engaged in the petrochemical industry or the oil and gas industry

The Government of Syria

A natural person in, or resident in, Syria

An entity formed or incorporated in Syria

A financial institution domiciled in Syria

Amendment of Export Sanctioned Goods List

In accordance with subregulation 4(2) of the Regulations, the Minister has amended the list of export sanctioned goods in relation to Syria by legislative instrument.

Removal from the list of export sanctioned goods

Equipment, materials, software and technology related to the:

Exploration, production and refining of crude oil and natural gas

Petrochemical industry

Construction or installation of power plants for electricity production

Effects of listing

In accordance with subregulation 4A(2) of the Regulations, the Minister has repealed the list of import sanctioned goods in relation to Syria by legislative instrument.

Removal from the list of import sanctioned goods

Crude oil and petroleum products

Petrochemical products

2 entities de-listed under the Autonomous Sanctions Regulations

The Minister has by legislative instrument revoked the designations of 2 entities for targeted financial sanctions in accordance with regulation 6 of the Regulations. These entities will no longer appear on the Consolidated List:

Commercial Bank of Syria

Syrian Lebanese Commercial Bank

Source: Amendments to the Syria sanctions framework | Australian Government Department of Foreign Affairs and Trade https://share.google/H6eCjFXizazt5J8MI