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Syria using maze of shell companies to avoid sanctions on Assad regime’s elite
Date 2022-04-26
Syria using maze of shell companies to avoid sanctions on Assad regime’s elite
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Date

2022-04-26

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168

The Syrian regime is setting up shell companies in a systematic attempt to avoid sanctions, according to official documents obtained by the Guardian. The Observatory of Political and Economic Networks, represented by the Syrian Program Manager, Dr. Karam Shaar, participated in the story.

The documents, not publicly available, detail at least three companies established in Syria on the same day with the explicit purpose of operating as a shell to buy shares and manage other companies. They show clear links between the owners of the new shell companies, President Bashar al-Assad and Syria’s economically powerful elite, including individuals under sanction.

Follow the link to read more about the story at the Guardian page