Panama papers show Assad regime circumvented sanctions
if($('.nav-wrapper').width()<728){ google_ad_client = "ca-pub-8530768961177157"; google_ad_slot = "8024336238"; google_ad_width = 300; google_ad_height = 250; } else { google_ad_client = "ca-pub-8530768961177157"; google_ad_slot = "1705860969"; google_ad_width = 728; google_ad_height = 90; }

Panama papers show Assad regime circumvented sanctions

Orient Net - Outlook I
Date: 2016-04-04 22:00
Assad regime has been able to circumvent international sanctions and fund its war effort through shadow companies, according to leaked "Panama Papers" seen by French daily Le Monde.

The newspaper reported today that three Syrian companies, Pangates International, Maxima Middle East Trading, and Morgan Additives Manufacturing, used the services of Panama-based law firm Mossack Fonseca to create shadow companies in the Seychelles.

Le Monde, a partner in the year-long worldwide media investigation into a trove of 11.5 million documents leaked from Mossack Fonseca, said the shadow companies were "a way for the Syrian regime to circumvent international sanctions imposed since the start of the war".

The three firms are under US sanctions for allegedly providing petroleum supplies to Bashar al-Assad’s regime likely to be used by his military, including aviation fuel.

Since March 2011, tens of thousands of people have been killed and thousands of homes destroyed in air raids and barrel bomb strikes.

Le Monde said the leaked documents show Mossack Fonseca continued to work with at least one of the companies, Pangates, until at least nine months after the sanctions were announced.

Pangates belongs to the Damascus-based Abdulkarim Group, which is close to Assad regime, Le Monde said.

The probe, coordinated by the International Consortium of Investigative Journalists, has exposed a tangle of financial dealings by global elites.

Assad’s billionaire cousin Rami Makhlouf, who is facing sanctions, was also shown by the leaks as long having registered companies in tax havens.

Syria’s most notorious and powerful tycoon, Makhlouf, founded shadow companies such as Drex Technologies SA, which was registered in the British Virgin Islands in 2000 and which it took Mossack Fonseca a decade to grow concerned about, Le Monde reported.

Related

google_ad_client = "ca-pub-8530768961177157"; google_ad_slot = "4041467030"; google_ad_width = Math.floor($('.col.m12').first().innerWidth()/10)*10-30; google_ad_height = 90;
Russian warplanes kill at least nine civilians in Aleppo countryside .Russian-Assad bombing killed five, injures dozens of civilians in Aleppo countryside on Monday .Assad militias shell Idlib and Aleppo countryside despite claimed ceasefire .Russian air strikes kill four members of single family in Aleppo countryside .Opposition fighters warn civilians against approaching Assad positions in Aleppo .Opposition fighters destroy, capture Assad tanks in Syria’s Idlib .Assad militiamen killed, injured in Idlib countryside .Landmine kills civilian in Deir ez-Zoor .Demonstrations rock Syria’s Sweida .Idlib demonstrators call to overthrow Assad regime .Demonstrators near Omari mosque in Daraa call for release of Syrian detainees .Syrian pound crashes to record low .UN: Syria ceasefire has failed as civilians killed daily .UN: 700,000 Syrians displaced in 8 months .379,000 civilians flee Russian-Assad offensive in Idlib .UNICEF calls to protect Syrian children from carnage in Idlib .Three Turkish soldiers killed in car bomb attack in Syria’s Tel Abyad .Turkey could move further in Syria, Erdogan says .Protesters pile pressure on Iranian regime .377 wounded in Lebanon as protesters clash with security forces