Assad Regime's Financial Transfers to Moscow
The Financial Times has revealed that the regime of ousted Syrian President Bashar al-Assad transferred approximately $250 million in cash to Moscow between 2018 and 2019. This significant amount, which equates to about two tons of banknotes in $100 and €500 denominations, was transported to Vnukovo Airport in Moscow for deposit in Russian banks, despite ongoing Western sanctions. The analysis of bank records indicates that senior aides to Assad continued these transfers even as the regime faced a severe shortage of foreign currency.
The report highlights that Russia has become a crucial financial destination for the Assad regime, particularly as Western sanctions have effectively cut Syria off from the global financial system. The Assad family has reportedly used a complex network of companies and loans to acquire at least 20 luxury apartments in Moscow since 2013. Recently, there have been suggestions that the Assad family may relocate to the Moscow City area following Russia's grant of asylum for humanitarian reasons.
Impact of Sanctions and Syrian Opposition Movements
The unusual financial maneuvers underscore the Assad regime's reliance on Russian support amidst crippling sanctions. As the regime struggles economically, the Syrian armed opposition factions have intensified their activities, recently launching the “Deterrence of Aggression” operation. This operation commenced in Idlib and Aleppo and has reportedly reached Damascus, with opposition forces claiming to have entered the capital, signaling a potential shift in power dynamics within Syria.
The Financial Times' findings not only shed light on the Assad regime's financial strategies but also reflect the broader geopolitical implications of the ongoing conflict in Syria. With Russia's role as a financial lifeline for Assad becoming increasingly evident, the future of the regime remains uncertain as opposition forces gain ground.
