US State Department Reveals Assad Family’s Net Worth

US Department of State (Asharq Al-Awsat)
US Department of State (Asharq Al-Awsat)
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US State Department Reveals Assad Family’s Net Worth

US Department of State (Asharq Al-Awsat)
US Department of State (Asharq Al-Awsat)

The US Department of State issued a highly anticipated report to Congress on the estimated net worth and known sources of income of Syrian President Bashar Assad and his family, estimated at between $1-2 billion.

The report examines the finances of Bashar Assad and his wife Asma, Bashar’s brother Maher and sister Bushra, Bashar’s cousins Rami and Ihab Makhlouf, and Bashar’s uncle Rifaat Assad.

The State Department did not have sufficient information on the net worth of Bashar Assad’s three children, Hafez, Zayn, and Karim, which could generate criticism in Congress.

The report is binding to the administration after Congress passed a law asking it to be submitted periodically.

“Estimates based on open-source information generally put the Assad family net worth at between $1-2 billion, but this is an inexact estimate which the Department is unable to independently corroborate,” read the report.

The Department claimed that it was difficult to accurately estimate the net worth of Assad and his extended family members because family assets are believed to “be spread out and concealed in numerous accounts, real estate portfolios, corporations, and offshore tax havens.”

The report argues that “any assets located outside of Syria and not seized or blocked are likely held under false names or by other individuals, to obscure ownership and evade sanctions.”

Meanwhile, the Syrian President appointed Major General Ali Abbas as the new Defense Minister, succeeding General Ali Ayoub, in the fifth change to this position since 2011.

Ayoub, former army chief of staff, was appointed by Assad in 2018.

It is not unusual to change senior officials in high ministerial positions in Syria.



Sisi: Regional, Int’l Reality Imposes ‘Complex Challenges’ on Egypt

Egyptian President Abdel Fattah al-Sisi (Egyptian Presidency)
Egyptian President Abdel Fattah al-Sisi (Egyptian Presidency)
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Sisi: Regional, Int’l Reality Imposes ‘Complex Challenges’ on Egypt

Egyptian President Abdel Fattah al-Sisi (Egyptian Presidency)
Egyptian President Abdel Fattah al-Sisi (Egyptian Presidency)

Egyptian President Abdel Fattah al-Sisi said on Tuesday that the current regional and international reality imposes new challenges and complex situations on Egypt, but then affirmed that his country will overcome this turbulent phase.

In a speech on the occasion of the 72nd anniversary of the July 23 Revolution, Sisi spoke of the repercussions of the regional wars now raging in the Gaza Strip and Sudan.

He mentioned the situation in the region such as wars, conflicts, civil strife, state fragmentation, institutional collapse, humanitarian catastrophes, famine outbreaks, and massive displacement.

“These unprecedented circumstances add tremendous burdens on Egypt, which can only be alleviated by my firm belief in the strength, resilience, unity, and cohesion of our great people who stand as a single structure, supporting each other, in the face of adversity,” Sisi said.

He affirmed that Egypt will overcome this turbulent phase, and continue its path towards progress, development, as well as building the nation.

“Egypt has kept pace with the changes of time, opening to the world and striving to enhance its economic, investment, urban, and industrial capabilities,” Sisi said.

He added that his country has also integrated into the global trade system while focusing on protecting the national economy as much as possible from the fluctuations and shocks of the global economy.

“This has been achieved through comprehensive and effective systems, offering the necessary social protection,” Sisi said.

The Egyptian President also renewed his country’s support for the Palestinians, affirming intensively working to support their legitimate right to an independent and sovereign state.