General Electric abide by sanctions against Syria
Syria-USA, Economics, 7/1/2004

One American diplomat in Damascus yesterday announced the freezing of a contract signed between the American Technology Group" General Electric" and the general establishment for Railways in Syria because of the economic sanctions imposed recently by the US against this country.

The diplomat said that the " sanctions ban all sorts of American exports ( to Syria) with the exception of medicines and food stuffs and thereby ban the selling of equipment." He stressed that railways imports are also banned as a result and for that reason General Electric will not execute the contract. The cost of the contract is estimated at more than 100 million dollars.

On May 11, the US President George W. Bush approved a series of sanctions against Syria, the US congress had voted for. The Syrian minister of oil Ibrahim Haddam said recently that the American companies active in the area of services and importing equipment working in the Syrian oil sector " were greatly affected " as a result of the sanctions imposed by Washington against Syria.

On the other hand, large number of Syrian businessmen complain the adverse impact of the sanctions which increase the complexity of their work, and therefore the sanctions were negatively reflected on importing products basic for the oil industry carried out by a mixed company between Syrian businessmen and the Giant American Group " Axon Mobile," as stated by one businessman.

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