Is Assad Using Lebanese Companies To Bypass US Sanctions?

The Narrow Economic Chamber in Syria has been known for its close relationship with Lebanese businessmen and various companies for many years, but it began to appear publicly about two years ago, as part of the reconstruction campaign in Syria, when the Syrian regime tried to prevent the effects of economic sanctions, but their efforts were unsuccessful. Success was crowned with Washington’s insistence on prohibiting all foreigners from dealing with Damascus.

The Caesar Act, which was approved by the US Congress, came into force last June, to initiate sanctions against the Syrian regime and its allies, the latest of which was the inclusion of the US Treasury, this week, of the Kamal Imad al-Din al-Madani and Tariq Imad al-Din al-Madani, in their capacity. One of the founders of the oil company “Salizar” is on the sanctions list.

Kamal and Tariq, the first was born in 1980 and the second was born in 1984, and they are two of the founders of the company “Slazar”, which concluded oil agreements with the Syrian government. Member of the Board of Directors and authorized signatory with a 25% stake in the company.

Salizar owns an 85 percent joint stake in two joint ventures with the Syrian Ministry of Petroleum and Mineral Resources and the Syrian Refining and Distribution Corporation (PERD) to establish two new oil refineries in Syria.

According to the data of the Lebanese Commercial Registry, the family business “Salizar”, of its type, is of limited liability, and all its partners are of the same surname (Imad al-Din al-Madani), and was registered on April 12, 2018 at 12:00 pm (an unusual procedure by law).

According to the official file of the company, the theme of its work revolves around “general trade, import, export, commission, intermediation, nationalities, marketing, promotion, establishment and management of factories of all kinds, transport, maritime and land freight and all commerce and real estate construction “, according to its official file.

The company that specializes in the oil business in Syria, unlike its subject, did not mention restrictions, contracts and agreements in its official registry, according to what appears in its schedule published on the website of the Lebanese Commercial Registry.