US report says Assad family likely net worth $1-2 billion
April 29, 2022, 3:16 pm

US report says Assad family likely net worth $1-2 billion

Syrian President Bashar al-Assad in Damascus, Aug. 12, 2020. (AFP)

The France24 reported, citing the AFP, the US State Department said Thursday (Apr 28), despite US-led efforts to isolate Syrian President Bashar al-Assad over the brutal war, his family is likely worth $1-2 billion.

In a report required by Congress, the State Department said it could only provide an "inexact estimate" with the Assads believed to hold assets under fictitious names or through opaque property dealings.

The publicly released part of the report, some of which was classified: "Estimates based on open-source information generally put the Assad family net worth at between $1-2 billion."

Quoting non-governmental and media reports, the State Department said that the Assads run "a complex patronage system including shell companies and corporate facades that serves as a tool for the regime to access financial resources."

Syrian President Bashar al-Assad (center) and his wife Asma (right) cast votes in Douma near Damascus in May 2021 LOUAI BESHARA AFP/File

The estimate includes the president's wife, brother, sister, cousins and uncle, most of whom are under US sanctions.

The State Department said it did not have enough information on the net worth of the president's three children, the youngest of whom is 17.

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The US Congress has led sanctions that aim to prevent a return to business as usual with Assad, who has regained control over most of Syria after a decade of war estimated to have killed nearly half a million people.

The United States has called for accountability after wide concerns about human rights.

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But much of the region is moving on, with Assad in March visiting the United Arab Emirates in his first official visit to an Arab country since the war broke out.

Source: france24

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Upon arriving to participate in the summit of the European Political Community, which includes around forty heads of state in Budapest, he said, "I look forward to sitting with the elected U.S. president and seeing how we will collectively ensure we meet challenges, including the threats from Russia and North Korea." He also noted that the strengthening of ties between Russia and North Korea poses a threat to the United States as well, according to reports from Agence France-Presse.

Before Trump's victory, Rutte expressed confidence that a united Washington would remain part of the defensive alliance, even if Trump became the 47th president of the United States. In an interview with German public broadcaster ZDF last Monday night, he stated that both Republicans and Democrats understand that NATO serves not only the security of Europe but also that of America. He added that both candidates are aware that the security of the United States is closely tied to NATO.

On Wednesday, NATO congratulated Trump on his victory but did not address the Ukrainian issue.

It is noteworthy that the relationship between the elected U.S. president and the defense alliance was not the best during his first term in the White House. Trump criticized NATO member states multiple times and even hinted at withdrawing from the alliance unless they increased their financial contributions.

Additionally, the issue of the Russian-Ukrainian war is one of the matters that complicate relations between the two sides, especially since Trump has repeatedly stated that he can end this ongoing conflict, which began in 2022, quickly. He implied that he had a peace plan between Kyiv and Moscow, while his vice president, JD Vance, revealed aspects of that plan, which stipulated Ukraine's commitment not to join NATO, thereby sending reassuring signals to the Russians.

Furthermore, many NATO member states in Europe fear that Trump might halt military aid to Ukraine after he previously criticized the U.S. for pouring funds into supporting Ukrainian President Volodymyr Zelensky.