SYRIA USING MAZE OF SHELL COMPANIES TO AVOID SANCTIONS ON ASSAD REGIME’S ELITE

On 22 March, the Guardian reported that the Syrian regime is setting up shell companies in a systematic attempt to avoid sanctions.  It says that documents detail at least 3 companies established in Syria on the same day with the explicit purpose of operating as a shell to buy shares and manage other companies.  It says that the criminal network the Syrian regime uses to evade sanctions and to keep the country’s illicit economy functioning to continue is outrunning any updates by western governments.

https://www.theguardian.com/global-development/2022/mar/22/syria-using-maze-of-shell-companies-to-avoid-sanctions-on-assad-regimes-elite

 

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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

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