A little-known American company has secured a contract to develop and export the region’s crude oil under a secretive deal approved by the U.S. government. It comes months after President Trump announced he was leaving U.S. troops to “secure the oil”
An American company has inked a contract with Kurdish authorities in northeastern Syria to develop and export the region’s crude oil under a secretive deal approved by the U.S. government months after President Donald Trump announced he was leaving U.S. troops to “secure the oil,” multiple people familiar with the project told POLITICO.
The Treasury Department has multiple sanctions against Syria’s oil market. In a March 2019 the Trump administration issued the orders targeting companies that deliver or finance petroleum shipments of Syrian oil on behalf of the country’s government. The effort is designed to punish the Assad regime for atrocities committed amid the country’s civil war.
"Treasury does not generally comment on or provide details on license applications or specific licenses that have been issued as the information contained within these licensing applications and determinations may be protected by the Privacy Act, the Trade Secrets Act, or other regulations governing OFAC’s licensing authorities," the spokesperson said in an email.
The State Department is leading the effort under James Jeffrey, United States Special Representative for Syria Engagement and the Special Envoy for the Global Coalition to Defeat ISIL, and his deputy, Joel Rayburn, the former Trump administration official said.
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