AP Interview: Syrian magnate denies buying Islamic State oil

In this photo released on Tuesday, Feb. 10, 2015, by the Syrian official news agency SANA, Syrian President Bashar Assad smiles during an interview with the BBC, in Damascus, Syria. AP

DAMASCUS, Syria — A Syrian businessman facing European Union sanctions has denied allegations that he bought oil from the Islamic State group for President Bashar Assad’s government.

George Haswani told The Associated Press on Tuesday that the sanctions are political, adding that he is preparing to take unspecified legal action against the EU.

The EU says that Haswani, co-owner of HESCO Engineering and Construction Co., a major engineering and construction company in Syria, has close ties to the government.

The EU says Haswani acts as “a middle man in deals for the purchase of oil from ISIL by the Syrian regime,” referring to the Islamic State group by an alternate acronym.

The Islamic State group, which holds a third of Syria and neighboring Iraq, sells oil to help fund its conquests.