Today, the United States is designating under Caesar Act authorities two Syrian money service businesses and affiliated three individuals that provide financial support to the Assad regime. These two Damascus-based exchange companies have facilitated millions of dollars in transfers since 2021 to accounts at the U.S.-designated Central Bank of Syria to benefit the Assad regime. U.S.-designated Hizballah has also used these exchange companies to transfer money from other regional countries to Syria. These actions build on the broader efforts to deny Hizballah and Iran the financial resources used to sustain their malign activities in the region.
Our actions today further demonstrate that the United States’ commitment to promoting accountability for the Assad regime’s abuses and justice for victims is unwavering. Any foreign person who knowingly provides significant financial, material, or technological support to, or engages in a significant transaction with the Government of Syria, puts themselves at risk of U.S. sanctions.
We continue to urge states in the region to consider carefully the atrocities committed by the regime on the Syrian people, some of which rise to the level of war crimes and crimes against humanity, as well as the regime’s continuing efforts to deny much of the country access to humanitarian aid despite carveouts from our sanctions that authorize such humanitarian activity to help the people suffering as a result of the regime’s cruelty.
We will use all tools at our disposal to push for reform and promote accountability for those who profit from the Assad regime’s atrocities and flagrant denial of human rights.
Today’s designations of the entities Al-Fadel Exchange and Money Transfer Company and Al-Adham Exchange Company, and the individuals Fadel Ma’ruf Balwi, Mut’i Ma’ruf Balwi, and Muhammad Ma’ruf Balwi are being taken pursuant to and the Caesar Syria Civilian Protection Act. For more information, please see the Department of the Treasury’s press release .
Official news published at https://www.state.gov/imposing-sanctions-on-syrian-financial-facilitators/