OFAC Syria-Assad Regime Designation
On Jun. 17, OFAC designated investors supporting Assad regime.
- OFAC named investors supporting Assad regime’s corrupt reconstruction efforts.
- Sanctioned individuals and entities seek to profit from the large-scale displacement of Syrian civilians; first under Caesar Syria Civilian Protection Act of 2019 (Caesar Act).
- Named Entities
- Some of the designations stem from the development of land that was expropriated from Syrians displaced by the regime in order to make way for five-star real estate.
- Damascus Cham Holding Company; Mirza Co.; Bunyan Damascus; Apex Development.
- Tamayoz LLC; Rawafed Damascus; Ramak Development; Wings Private; among others
- Named Individuals
- Among individuals named Nader Kalai and Khaled Al-Zubaidi, two Syrian businessmen with ties to the Assad regime, through their company Zubaidi and Qalei LLC.
- Kalai and Al-Zubaidi are developing Grand Town Tourist City, luxury development near Damascus airport to include, shopping mall, golf course, villas, entertainment center.
- Jun. 2020 Federal Register
- On Jun. 25, 2020, OFAC published notice of designations in the federal register.
- Jul. 29, 2020 Designations, Removals
- On Jul. 29, 2020, OFAC designated investors, companies supporting the Assad regime.
- Sanctioned one individual and nine entities for enriching the Syrian regime through construction of luxury real estate, under Caesar Syria Civilian Protection Act of 2019.
- Wassim Anwar Al-Qattan is a Syrian businessman who has many contracts with the Government of Syria to develop government-owned shopping malls, hotel properties.
- Muruj Cham Investment and Tourism Group signed a contract with the Ministry of Tourism of Syria in June 2018 to invest in the Al-Jalaa Hotel in Damascus.
- Paid the government 2.25 billion Syrian pounds ($5 million) a year for 25 years.
- Adam Trading and Investment, owned 50% by Al-Qattan, will develop and manage the Massa Plaza Mall in Damascus; Intersection to develop tourist commercial complex.
- Other Al-Qattan: Wassim Kattan LLC and Larosa Furniture, both located in Damascus.
- Qasioun Mall; Al-Jalaa Hotel; Massa Plaza Mall; Yalbagha Complex are being name too.
- OFAC is removing from OFAC List: Sumaia Saber Humcho; Somaya Saber Humsho.
- Treasury statement on pressure efforts on investors, firms supporting corrupt regime.
- Aug. 6, 2020 Federal Register
- On Aug. 6, 2020, OFAC published designations of Jul. 29th in the federal register.
- Aug. 20, 2020 Designations
- On Aug. 20, 2020, OFAC designated senior Syrian government officials tied to Assad.
- Luna Al Shibl is prominent member of Assad’s inner circle; former TV news anchor, an advisor to Assad, his press officer, instrumental in developing Assad’s false narrative.
- Promotes that Assad controls Syria and people flourish under his leadership.
- Al Shibl orchestrated photo ops for Assad among cheering Syrian people.
- Mohamad Ammar Saati bin Mohamad Nawzad, a longtime leader within the Syrian Ba’ath Party, a former Syrian parliamentarian, and the husband of Al Shibl.
- He was also the president of the National Union of Syrian Students (NUSS), an organization inside and outside of Syria that promote the Syrian Ba’ath Party.
- Credited with idea of Ba’ath Brigades, a group of student volunteer fighters.
- OFAC also designated four other individuals of the Syrian regime: Yasser Ibrahim, Fadi Saqr; Ghaith Dalah; Samer Ismail; senior officials who have lead Syrian military.
- Aug. 25, 2020 Federal Register
- On Aug. 25, 2020, OFAC published notice of designations in the federal register.
- Sep. 2020 Designations
- On Sep. 30, 2020, OFAC designated key facilitators of the Assad regime within Syria.
- Enablers of the Assad regime that are associated with the fourth division of the Syrian Arab army, the Syrian general intelligence directorate, and the central bank of Syria.
- Khodr Taher Bin Ali, Syrian businessman, prominent local intermediary and contractor for army fourth division, an elite military unit, led by Assad's brother, Maher al-Assad.
- Also named Bin Ali's companies, Castle Security and Protection, a private security company with ties to army, Emma Tel LLC, a telecommunications, cell phone provider.
- Ella Media Services, an advertising firm awarded license to manage Syria’s largest billboard advertising; Syrian Hotel Management; Syrian Transport and Tourism Co.
- Al Ali and Al Hamza LLC, Jasmine Contracting Company, Golden Star Trading; others.
- Husam Muhammad Louka, head of Syrian general intelligence directorate (GID), one of four intelligence agencies; reported committed many massacres, e.g., Eid massacre.
- Hazem Younes Karfoul, governor of the Central Bank of Syria (CBoS) since Sep. 2018.
- Concurrently, OFAC issued Syria general license 20, entitled authorizing transactions and activities necessary for wind down of transactions with Emma Tel LLC.
- On Sep. 30, 2020, US State Department designated Nasreen Ibrahim, Rana Ibrahim, the adult sisters of Assad financier Yasser Ibrahim; 5th Corps commander Milad Jedid.
- Oct. 2020 Federal Register
- On Oct. 5, 2020, OFAC published notice of designations in the federal register.
||OFAC; US Treasury
||B/D; Bank; Corp; Depo; IA; Ins; MSB
||85 FR 62806, 10/5/2020; List, PR, GL20, 9/30/2020; 85 FR 52414, 8/25/2020; List, PR 8/20/2020; 85 FR 47840, 8/6/2020;List, PR, 7/29/2020, EO 13582, EO 13894,; 85 FR 38251, 6/25/2020; PR, 6/17/2020; Caesar Act; EO 13573
||AML; Anti-Bribery; Compliance; Financial; Legal; Operations
||Syria; United States of America; Cross-Border
||Banking; Clearing; Deposits; Loan; Payments; Wealth Mgt
|Reg. Last Update
||AML & Enforcement
Last substantive update on 10/06/2020