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Treasury Dept. Announces Syria Sanctions

2:16 PM, Aug 10, 2011 • By DANIEL HALPER
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Josh Rogin reports that the Treasury Department has announced new sanctions of Syria:

Today, the Treasury Department announced new sanctions against the Commercial Bank of Syria and its Lebanon-based subsidiary, Syrian Lebanese Commercial Bank, and Syriatel, the largest mobile phone operator in Syria.

"By exposing Syria's largest commercial bank as an agent for designated Syrian and North Korean proliferators, and by targeting Syria's largest mobile phone operator for being controlled by one of the regime's most corrupt insiders, we are taking aim at the financial infrastructure that is helping provide support to Assad and his regime's illicit activities," Undersecretary for Terrorism and Financial Intelligence David Cohen said in a statement.

Rogin reports that the bipartisan legislation is being sponsored by Senators Lieberman, Kirk, and Gillibrand and "would authorize President Barack Obama to close off the U.S. financial system, markets, and federal contracts to companies that invest in Syria's energy sector, purchase the country's oil, and sell gasoline to Syria."

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