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NRIPage | Articles | Syria’s Assad Regime Secretly Transferred $250 Million in Cash to Russia | Get Latest International News & Updates. Your Source for World Events and Updates - NRI Page
A shocking revelation from the Financial Times has disclosed that ousted Syrian President Bashar al-Assad's regime airlifted around $250 million to Moscow between 2018 and 2019. The cash, including nearly two tonnes of $100 bills and €500 notes, was flown to Moscow’s Vnukovo airport and deposited in Russian banks under sanctions. This move was part of Assad's efforts to bypass Western sanctions that isolated Syria from the global financial system. During this time, Assad’s relatives were also secretly acquiring assets in Russia.
The report sheds light on the extent to which Assad’s regime turned to illegal activities, such as international drug trafficking and fuel smuggling, to fund the ongoing war. Russia, which has supported Assad’s regime throughout the Syrian Civil War, has become a safe haven for both Assad and his inner circle.
Between March 2018 and September 2019, the unprecedented cash transfers were made, with no formal records of the funds being received by Russian banks. Despite these controversial transactions, the Assad regime’s relationship with Russia strengthened as both sides sought to benefit from Syria’s war-torn economy, including its lucrative phosphate supply chain.
