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Syria’s Assad freezes assets of his cousin Rami Makhlouf

December 24, 2019 at 10:58 am

Rami Makhlouf, a wealthy businessman and the cousin of Syrian President Bashar Al-Assad, 17 May 2017

Syria’s Financial Ministry has frozen the assets of businessman, Rami Makhlouf, the cousin of regime leader Bashar Al-Assad, Arabi21 reported yesterday.

The ministry froze the assets over claims Makhlouf imported smuggled goods.

“Based on the recommendations of the Anti-Smuggling Department, it was decided to reserve the moveable and immoveable assets of Makhlouf,” the ministry said.

It added: “This reserve of assets was conducted to guarantee the rights of the public treasury regarding the fees and fines related to the case of smuggling goods worth two billion liras [$3,883,504].”

Makhlouf is currently being held under house arrest because he refused to give up billions of dollars to Al-Assad in order to pay his debts to Russia.

Since May 2008, Makhlouf has been listed among the firms and individuals who are under international sanctions due to claims that he has supported the Assad regime.

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