US State Department Reveals Assad Family’s Net Worth

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

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.



Lebanon Security Source Says Hezbollah Official Targeted in Beirut Strike

Civil defense members work as Lebanese army soldiers stand guard at the site of an Israeli strike in Beirut's Basta neighbourhood, amid the ongoing hostilities between Hezbollah and Israeli forces, Lebanon November 23, 2024. REUTERS/Adnan Abidi
Civil defense members work as Lebanese army soldiers stand guard at the site of an Israeli strike in Beirut's Basta neighbourhood, amid the ongoing hostilities between Hezbollah and Israeli forces, Lebanon November 23, 2024. REUTERS/Adnan Abidi
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Lebanon Security Source Says Hezbollah Official Targeted in Beirut Strike

Civil defense members work as Lebanese army soldiers stand guard at the site of an Israeli strike in Beirut's Basta neighbourhood, amid the ongoing hostilities between Hezbollah and Israeli forces, Lebanon November 23, 2024. REUTERS/Adnan Abidi
Civil defense members work as Lebanese army soldiers stand guard at the site of an Israeli strike in Beirut's Basta neighbourhood, amid the ongoing hostilities between Hezbollah and Israeli forces, Lebanon November 23, 2024. REUTERS/Adnan Abidi

A Lebanese security source said the target of a deadly Israeli airstrike on central Beirut early Saturday was a senior Hezbollah official, adding it was unclear whether he was killed.

"The Israeli strike on Basta targeted a leading Hezbollah figure," the security official told AFP without naming the figure, requesting anonymity to discuss sensitive matters.

The early morning airstrike has killed at least 11 people and injured 63, according to authorities, and had brought down an eight-storey building nearby, in the second such attack on the working-class neighbourhood of Basta in as many months.

"The strike was so strong it felt like the building was about to fall on our heads," said Samir, 60, who lives with his family in a building facing the one that was hit.

"It felt like they had targeted my house," he said, asking to be identified by only his first name because of security concerns.

There had been no evacuation warning issued by the Israeli military for the Basta area.

After the strike, Samir fled his home in the middle of the night with his wife and two children, aged 14 and just three.

On Saturday morning, dumbstruck residents watched as an excavator cleared the wreckage of the razed building and rescue efforts continued, with nearby buildings also damaged in the attack, AFP journalists reported.

The densely packed district has welcomed people displaced from traditional Hezbollah bastions in Lebanon's east, south and southern Beirut, after Israel intensified its air campaign on September 23, later sending in ground troops.

"We saw two dead people on the ground... The children started crying and their mother cried even more," Samir told AFP, reporting minor damage to his home.

Since last Sunday, four deadly Israeli strikes have hit central Beirut, including one that killed Hezbollah spokesman Mohammed Afif.

Residents across the city and its outskirts awoke at 0400 (0200 GMT) on Saturday to loud explosions and the smell of gunpowder in the air.

"It was the first time I've woken up screaming in terror," said Salah, a 35-year-old father of two who lives in the same street as the building that was targeted.

"Words can't express the fear that gripped me," he said.

Saturday's strikes were the second time the Basta district had been targeted since war broke out, after deadly twin strikes early in October hit the area and the Nweiri neighbourhood.

Last month's attacks killed 22 people and had targeted Hezbollah security chief Wafiq Safa, who made it out alive, a source close to the group told AFP.

Salah said his wife and children had been in the northern city of Tripoli, about 70 kilometres away (45 miles), but that he had to stay in the capital because of work.

His family had been due to return this weekend because their school reopens on Monday, but now he has decided against it following the attack.

"I miss them. Every day they ask me: 'Dad, when are we coming home?'" he said.

Lebanon's health ministry says that more than 3,650 people have been killed since October 2023, after Hezbollah initiated exchanges of fire with Israel in solidarity with its Iran-backed ally Hamas over the Gaza war.

However, most of the deaths in Lebanon have been since September this year.

Despite the trauma caused by Saturday's strike, Samir said he and his family had no choice but to return home.

"Where else would I go?" he asked.

"All my relatives and siblings have been displaced from Beirut's southern suburbs and from the south."