CHAPTER II

RESTRICTIONS ON FINANCING OF CERTAIN ENTERPRISES
Article 13
The following shall be prohibited:
1. the granting of any financial loan or credit to enterprises in Syria that are engaged in the Syrian oil industry sectors of exploration, production or refining, or to Syrian or Syrian-owned enterprises engaged in those sectors outside Syria;
2. the granting of any financial loan or credit to enterprises in Syria that are engaged in the construction of new power plants for the production of electricity in Syria;
3. the acquisition or extension of a participation in enterprises in Syria that are engaged in the Syrian oil industry sectors of exploration, production or refining, or in Syrian or Syrian-owned enterprises engaged in those sectors outside Syria, including the acquisition in full of such enterprises and the acquisition of shares or securities of a participating nature;
4. the acquisition or extension of a participation in enterprises in Syria that are engaged in the construction of new power plants for the production of electricity in Syria, including the acquisition in full of such enterprises and the acquisition of shares or securities of a participating nature;
5. the creation of any joint venture with enterprises in Syria that are engaged in the Syrian oil industry sectors of exploration, production or refining and with any subsidiary or affiliate under their control;
6. the creation of any joint venture with enterprises in Syria that are engaged in the construction of new power plants for the production of electricity in Syria and with any subsidiary or affiliate under their control.
Article 14
1
The prohibitions set out in points (a) and (c) of Article 13:
1. shall be without prejudice to the execution of an obligation arising from contracts or agreements concluded before 23 September 2011;
2. shall not prevent the extension of a participation, if such extension is an obligation under an agreement concluded before 23 September 2011.
2
The prohibitions set out in points (b) and (d) of Article 13:
1. shall be without prejudice to the execution of an obligation arising from contracts or agreements concluded before 1 December 2011;
2. shall not prevent the extension of a participation, if such extension is an obligation under an agreement concluded before 1 December 2011.