November 30, 2018

Top Assad Crony Positions Himself for Syrian Reconstruction

Syrian President Bashar al-Assad's cronies are preparing for a windfall in contracts in the wake of the civil war and the planned reconstruction and redevelopment of the country’s war-ravaged economy.

In September 2018, al-Assad’s billionaire cousin Rami Makhluf expanded his business empire by forming a new company licensed for a broad array of commercial activities.

The US sanctioned Makhluf for public corruption in 2008, and since then has followed up with designations against Makhluf’s companies and financial facilitators.

Syrian media outlets reported on the establishment of Ramak for Development and Investment Projects LLC, which is almost wholly owned by Makhluf through an intermediate company.

Kharon research

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