US report says Assad family likely net worth $1-2 billion
April 29, 2022, 3:16 pm

US report says Assad family likely net worth $1-2 billion

Syrian President Bashar al-Assad in Damascus, Aug. 12, 2020. (AFP)

The France24 reported, citing the AFP, the US State Department said Thursday (Apr 28), despite US-led efforts to isolate Syrian President Bashar al-Assad over the brutal war, his family is likely worth $1-2 billion.

In a report required by Congress, the State Department said it could only provide an "inexact estimate" with the Assads believed to hold assets under fictitious names or through opaque property dealings.

The publicly released part of the report, some of which was classified: "Estimates based on open-source information generally put the Assad family net worth at between $1-2 billion."

Quoting non-governmental and media reports, the State Department said that the Assads run "a complex patronage system including shell companies and corporate facades that serves as a tool for the regime to access financial resources."

Syrian President Bashar al-Assad (center) and his wife Asma (right) cast votes in Douma near Damascus in May 2021 LOUAI BESHARA AFP/File

The estimate includes the president's wife, brother, sister, cousins and uncle, most of whom are under US sanctions.

The State Department said it did not have enough information on the net worth of the president's three children, the youngest of whom is 17.

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The US Congress has led sanctions that aim to prevent a return to business as usual with Assad, who has regained control over most of Syria after a decade of war estimated to have killed nearly half a million people.

The United States has called for accountability after wide concerns about human rights.

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But much of the region is moving on, with Assad in March visiting the United Arab Emirates in his first official visit to an Arab country since the war broke out.

Source: france24

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