OFAC DESIGNATES SYRIAN OLIGARCH SAMER FOZ AND HIS LUXURY RECONSTRUCTION BUSINESS EMPIRE

On 11th June, the US Treasury announced that it had designated 16 individuals and entities associated with an international network benefiting the Assad regime.   These designations are said to serve to cut off critical supplies and financiers for the regime’s luxury reconstruction and investment efforts.   It is said that Samer Foz, his relatives, and his business empire have leveraged the atrocities of the Syrian conflict into a profit-making enterprise, and that this Syrian oligarch is directly supporting the murderous Assad regime and building luxury developments on land stolen from those fleeing his brutality.  Samer Foz is the Chairman and General Manager of Aman Holding, which was formerly known as the Aman Group.  Aman Holding owns and controls over a dozen companies, all of which benefit Samer Foz personally, and serves as an umbrella for over a dozen different ventures, and in some of these companies, Samer Foz shares ownership and managerial duties with his siblings Amer Foz and Husen Foz.

At the same time, OFAC also designated 2 businesses for shipments of Iranian-origin petroleum to Syria:  Synergy SAL (Offshore) and BS Company (Offshore).

https://home.treasury.gov/news/press-releases/sm704

https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20190611.aspx

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s