{"id":12864,"date":"2025-02-13T09:44:26","date_gmt":"2025-02-13T09:44:26","guid":{"rendered":"https:\/\/www.watanserb.com\/en\/?p=12864"},"modified":"2025-02-13T09:44:26","modified_gmt":"2025-02-13T09:44:26","slug":"syrias-new-government-investigates-assads-billionaire-allies-in-anti-corruption-drive","status":"publish","type":"post","link":"https:\/\/www.watanserb.com\/en\/2025\/02\/13\/syrias-new-government-investigates-assads-billionaire-allies-in-anti-corruption-drive\/","title":{"rendered":"Syria\u2019s New Government Investigates Assad\u2019s Billionaire Allies in Anti-Corruption Drive"},"content":{"rendered":"

Watan<\/strong>-The new Syrian government is scrutinizing the multi-billion-dollar corporate empires owned by allies of ousted President Bashar al-Assad and has held discussions with some of these wealthy figures as part of what it calls an effort to root out corruption and illegal activities.<\/p>\n

After taking power in December, Hay’at Tahrir al-Sham (HTS)\u2014which now governs Syria\u2014pledged to rebuild the country after a 13-year civil war and to dismantle the highly centralized and corrupt economic system dominated by Assad\u2019s associates.<\/p>\n

To achieve these goals, the new government has formed a special committee to analyze the vast business interests of prominent Assad-linked businessmen, such as Samer Foz and Mohammed Hamsho, according to three sources cited by Reuters.<\/p>\n

Asset Freezes and Major Investigations<\/h3>\n

According to correspondence reviewed by Reuters between Syria\u2019s central bank and commercial banks, the new administration froze the assets and bank accounts of companies and individuals associated with Assad just days after taking control of Damascus. This later expanded to include those already sanctioned by the United States.<\/p>\n

According to a government official and two Syrian sources familiar with the matter\u2014who requested anonymity\u2014both Hamsho and Foz returned to Syria from abroad and met with senior HTS figures in Damascus in January.<\/p>\n

The U.S. has sanctioned Hamsho and Foz since 2011 and 2019, respectively. However, the three sources confirmed that the two businessmen\u2014who are widely resented by ordinary Syrians for their close ties to Assad\u2014have pledged to cooperate with the new leadership\u2019s investigations.<\/p>\n

The U.S. Treasury has accused Foz\u2019s Aman Holding Group of profiting from the Syrian war, with its business interests spanning pharmaceuticals, sugar refining, trade, and transportation.<\/p>\n

\"Ahmad
Syria\u2019s new government<\/figcaption><\/figure>\n

Similarly, Hamsho International Group has major stakes in petrochemicals, metals, and television production.<\/p>\n

Hamsho\u2014described by the U.S. Treasury as a front for Assad and his brother Maher Assad\u2014did not respond to Reuters’ request for comment, nor could Reuters reach Foz for a statement.<\/p>\n

A Committee with Unprecedented Powers<\/h3>\n

The formation of the special investigative committee\u2014whose members remain undisclosed\u2014has never been publicly announced, nor have the discussions between Syria\u2019s new government and prominent businessmen tied to the Assad regime. These figures control vast sectors of the Syrian economy.<\/p>\n

Analysts and business figures say the new government’s approach to these powerful corporations remains unclear. However, it will be a crucial factor in shaping Syria\u2019s economic future, especially as the administration seeks to persuade Washington and its allies to lift sanctions.<\/p>\n

Official Engagement with Business Tycoons<\/h3>\n

Syria\u2019s Minister of Trade, Maher Khalil al-Hassan, and Investment Authority chief Ayman Hamwiya confirmed to Reuters that the government has reached out to certain Assad-linked businessmen. However, they did not specify names or provide further details.<\/p>\n

Khaldoun Al-Zoubi, a longtime business associate of Samer Foz, confirmed that Foz had held discussions with Syrian authorities but did not confirm whether he had physically returned to the country.<\/p>\n

Speaking from the Four Seasons Hotel in Damascus\u2014in which Foz\u2019s group owns a majority stake\u2014Zoubi said: \u201cFoz informed them that he is ready to cooperate with the new administration and provide full support to the Syrian people and the new government. He is willing to do anything they ask of him.\u201d<\/p>\n

\"the
The new Syrian leadership is targeting powerful businessmen linked to Bashar al-Assad<\/figcaption><\/figure>\n

However, the two Syrian sources reported that Foz\u2014who holds Turkish citizenship\u2014left Damascus after the meetings. Reuters has been unable to verify Hamsho’s current whereabouts.<\/p>\n","protected":false},"excerpt":{"rendered":"

Watan-The new Syrian government is scrutinizing the multi-billion-dollar corporate empires owned by allies of ousted President Bashar al-Assad and has held discussions with some of these wealthy figures as part of what it calls an effort to root out corruption and illegal activities. After taking power in December, Hay’at Tahrir al-Sham (HTS)\u2014which now governs Syria\u2014pledged …<\/p>\n","protected":false},"author":1,"featured_media":12865,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[199,67,3918],"class_list":["post-12864","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bashar-al-assad","tag-syria","tag-syrian-economy-reform"],"yoast_head":"\nSyria\u2019s New Government Investigates Assad\u2019s Billionaire Allies in Anti-Corruption Drive - Watan<\/title>\n<meta name=\"description\" content=\"Syria\u2019s new government is cracking down on billionaire tycoons linked to Bashar al-Assad, freezing assets and investigating corruption.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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