CGD in the News

Working with Oil Companies in Syria-"Dictator Fines" (Huffington Post)

August 24, 2011

Kim Elliott's work on DIRT sanctions was mentioned in a Huffington Post piece by Johnny West.

From the Article

The United States has applied an embargo on Syrian oil sales, and the EU has tasked its diplomatic force with drawing up similar plans for an oil embargo. But what can the Syrian opposition do?

They can establish sticks and carrots for oil companies, both those currently operating in Syria and those who might in the future, to encourage them to disengage from the Assad regime now.

Kimberly Ann Elliott proposed DIRT sanctions in a blog for the Center for Global Development last week - the idea that governments such as the United States, the EU and perhaps also regional bodies such as the Arab League would announce that from now on all contracts signed with the Syrian state were not regarded as legally binding, meaning a future Syrian government could renegue on them without penalty. At the very least, this would likely prod the regime's business partners to demand better terms, weakening the regime's market positions.

Read it here.