Offshore Companies Linked to Lebanon C.Bank Governor Have Assets Worth Nearly $100 Mln

Riad Salameh, the governor of Lebanon's central bank. (AP)
Riad Salameh, the governor of Lebanon's central bank. (AP)
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Offshore Companies Linked to Lebanon C.Bank Governor Have Assets Worth Nearly $100 Mln

Riad Salameh, the governor of Lebanon's central bank. (AP)
Riad Salameh, the governor of Lebanon's central bank. (AP)

Offshore companies linked to Lebanon’s central bank governor own assets worth nearly $100 million, a media group said in a report, as his role in Lebanon’s economic turmoil is under intense scrutiny.

The companies tied to Riad Salameh invested in real estate in Britain, Germany and Belgium over the past decade according to a report by a collective of European news outlets called the Organized Crime and Corruption Reporting Project (OCCRP), a nonprofit media organization, and its Lebanese partner, Daraj.com.

The report by the Sarajevo-based OCCRP does not allege any wrongdoing by Salameh and Reuters has not reviewed any of the documents on which the report is based.

Responding to the report, Salemeh told Reuters he had declared during a TV interview in April his net worth prior to becoming a governor in 1993 and it was $23 million dollars.

“I have shown the supporting documents as a proof. This to eliminate doubts on the origin of my net worth and that it was prior to holding office,” he said.

He said he had previously stated that he asked professionals and trustees to manage his net worth. “The origin of my net worth is clear, this is the important matter,” he said.

Salameh, previously seen as a guarantor of financial stability in the country, has become a focus of anger for street protesters since Lebanon’s financial system collapsed earlier this year under the weight of one of the world’s biggest public debt burdens.

The report into his personal wealth comes at a sensitive time as Lebanon grapples with the aftermath of an enormous chemicals explosion that devastated the capital Beirut, fueling public anger with the country’s leadership.

The OCCRP report also comes after central bank accounts seen by Reuters last month revealed that Lebanon’s central bank governor inflated the institution’s assets by over $6 billion in 2018, showing the extent of financial engineering used to help prop up the Lebanese economy.

The governor told Reuters last month that the central bank accounting was in line with policies approved by the board.

A Lebanese judge last month ordered a protective freeze on some assets held by the governor after ruling in favor of a complaint that he had allegedly undermined the financial standing of the state.

By the end of 2018, Salameh’s assets were worth more than $94 million, the report said, citing balance sheets of Luxembourg companies controlled by the governor.

Salameh said his declaration on his net worth demonstrated he was not trying to escape public scrutiny and was the proof he has “nothing to hide.”



Ship Attacked in Red Sea After Bulk Carrier Sinking Claimed by Yemen’s Houthis

 The Liberian-flagged bulk carrier Magic Seas is seen in Ambelakia Bay, Salamis Island, Greece, Aug. 9, 2022. (Nektarios Papadakis via AP)
The Liberian-flagged bulk carrier Magic Seas is seen in Ambelakia Bay, Salamis Island, Greece, Aug. 9, 2022. (Nektarios Papadakis via AP)
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Ship Attacked in Red Sea After Bulk Carrier Sinking Claimed by Yemen’s Houthis

 The Liberian-flagged bulk carrier Magic Seas is seen in Ambelakia Bay, Salamis Island, Greece, Aug. 9, 2022. (Nektarios Papadakis via AP)
The Liberian-flagged bulk carrier Magic Seas is seen in Ambelakia Bay, Salamis Island, Greece, Aug. 9, 2022. (Nektarios Papadakis via AP)

A Liberian-flagged cargo ship came under fire on Monday in the Red Sea, with two security guards on board reportedly hurt and two others missing in an assault that came after Yemen's Houthi militants purportedly sunk another vessel in a similar attack.

Earlier, the Houthis said they attacked Greek-owned bulk carrier Magic Seas, also Liberian-flagged, with drones, missiles, rocket-propelled grenades and small arms fire on Sunday, forcing its crew of 22 to abandon the vessel.

The two attacks and a round of Israeli airstrikes early Monday targeting the militants raised fears of a renewed Houthi campaign against shipping that could again draw in US and Western forces to the area, particularly after US President Donald Trump's administration targeted the militants in a major airstrike campaign.

The attacks come at a sensitive moment in the Middle East, as a possible ceasefire in the Israel-Hamas war hangs in the balance, and as Iran weighs whether to restart negotiations over its nuclear program following American airstrikes targeting its most sensitive atomic sites during an Israeli war against Tehran in June. Also, Israeli Prime Minister Benjamin Netanyahu was to meet with Trump on Monday at the White House.

The private security firm Ambrey reported the latest attack on Monday night in the Red Sea, offering the details on the two hurt and two missing security guards. It said the vessel had been heading north toward the Suez Canal when it came under fire by men in small boats and by bomb-carrying drones. The security guards on board had opened fire in the attack.

“The vessel’s engines had reportedly been disabled and Ambrey observed that the vessel had started to drift,” the firm said.

There were no other immediate details on the attack, which also was acknowledged by the British military's United Kingdom Maritime Trade Operations, or UKMTO, center. The Houthis' al-Masirah satellite news channel noted the attack, but the militants didn't claim the assault.

However, Moammar al-Eryani, the information minister with Yemen's legitimate government that opposes the Houthis and is based in southern Yemen, said the militants had also carried out the second attack. The Houthis control the northern half of Yemen and its capital, Sanaa.

The US military's Central Command said it was aware of reports of the attack, but declined to comment further.

Sunday's attack on the Magic Seas, another bulk carrier heading north to Egypt’s Suez Canal, happened about 100 kilometers (60 miles) southwest of the port of Hodeidah, Yemen, which is held by the Houthis. That's the same area of the attack on Monday night.

The UKMTO first said that an armed security team on the vessel had returned fire against an initial attack of gunfire and rocket-propelled grenades, though the vessel later was struck by projectiles. The UKMTO said the ship was taking on water and its crew had abandoned the vessel. They were rescued by a passing ship, it added.

A European Union anti-piracy patrol in the region, called Operation Atalanta, said that 22 mariners had been on board the Magic Seas.

The United Arab Emirates later Monday said that one of its ships from Abu Dhabi Ports received the call to help on the Red Sea and rescued the 22 people aboard the Magic Seas.

Brig. Gen. Yahya Saree, the Houthis' military spokesman, claimed Sunday's attack and said the militants used missiles and bomb-carrying drone boats to attack the ship.

“Our operations continue in targeting the depths of the Israeli entity in occupied Palestine, as well as preventing Israeli maritime navigation in the Red and Arabian Seas ... until the aggression on Gaza stops and the siege on it is lifted,” Saree said.

The Magic Seas’ owners didn’t respond to a request for comment. Saree later said the vessel had sank Monday in the Red Sea.

Israeli strikes target Houthi-held ports

The Israeli military said that it struck Houthi-held ports early Monday at Hodeidah, Ras Isa and Salif, as well as the Ras Kanatib power plant. It released footage showing an F-16 launching from Israel for the strike, which came after the Israeli military issued a warning for the area.

“These ports are used by the Houthi terrorist regime to transfer weapons from the Iranian regime, which are employed to carry out terrorist operations against the state of Israel and its allies,” the Israeli military said.

The Israeli military also said it struck the Galaxy Leader, a vehicle-carrying vessel that the Houthis seized back in November 2023 when they began their attacks in the Red Sea corridor over the Israel-Hamas war.

“Houthi forces installed a radar system on the ship and have been using it to track vessels in the international maritime arena to facilitate further terrorist activities,” the Israeli military said.

The Bahamas-flagged Galaxy Leader was affiliated with an Israeli billionaire. The ship had been operated by a Japanese firm, NYK Line.

The Houthis acknowledged the strikes, but offered no damage assessment from the attack.

Israel has repeatedly attacked Houthi areas in Yemen, including a naval strike in June. Both Israel and the United States have struck ports in the area in the past, including an American attack that killed 74 people in April, but Israel is now acting alone in attacking the militants as they continue to fire missiles at Israel.

Israeli Defense Minister Israel Katz threatened to launch further strikes.

“What’s true for Iran is true for Yemen,” Katz said in a statement. “Anyone who raises a hand against Israel will have it cut off. The Houthis will continue to pay a heavy price for their actions.”

The Houthis then responded with an apparent missile attack on Israel. The Israeli military said that it attempted to intercept the two missiles launched by the Houthis, but they appeared to make impact, though no injuries have been reported.

Saree on Monday claimed to launch missiles and drones targeting Israel in its attack.

The Houthis have been launching missile and drone attacks against commercial and military ships in the region in what the group’s leadership has described as an effort to end Israel’s offensive against Hamas in the Gaza Strip.

Between November 2023 and January 2025, the Houthis targeted more than 100 merchant vessels with missiles and drones, sinking two of them and killing four sailors. Their campaign has greatly reduced the flow of trade through the Red Sea corridor, which typically sees $1 trillion of goods move through it annually. Shipping through the Red Sea, while still lower than normal, has increased in recent weeks.

The Houthis paused attacks until the US launched a broad assault against the militants in mid-March. That ended weeks later and the Houthis haven’t attacked a vessel, though they have continued occasional missile attacks targeting Israel.