| 8 December 2023, Friday |

US targets Syrian money service businesses in fresh sanctions

The United States on Tuesday imposed punitive measures on two Syrian money service businesses it said help the government maintain access to the international financial system in violation of sanctions, in Washington’s first action targeting Syria since its readmittance to the Arab League earlier this month.

The US Treasury Department in a statement accused the two money service businesses, Al-Fadel Exchange and Al-Adham Exchange Company, of helping President Bashar al-Assad’s government and its allies, Hezbollah and Iran’s Quds Force, an arm of its Revolutionary Guards (IRGC).

The sanctions were imposed under the Caesar Act that also levied a tough round of sanctions on Syria in 2020.

The United States has said it will not normalize ties with Assad and has said Syria did not merit readmission into the Arab League.


  • Asharq Al-Awsat