Sanctions against Zug companies

The United States yesterday imposed sanctions on two oil trading companies in Zug. The US Treasury Department decided to apply these sanctions due to the companies’ business relationships with the Syrian regime of Bashar al-Assad. The decision thereby factually excludes the Zug companies from the financial system in the USA. According to information on their websites, the two companies - Rixo International Trading Ltd. and Blue Marine SA – are domiciled in Baar, in Canton Zug.
 
In addition to these two oil traders based in Switzerland, the US Treasury has also placed STAROIL BV, which is registered in the Netherlands, as well as one company each from the United Arab Emirates and Saudi Arabia, on the sanctions list.
 
Strict US sanctions have been imposed against the regime of Bashar el Assad due to the bloody civil war in Syria.