Did Bashar Al Assad Pay $250 Mn In 'Cash' To Russia For Military Support To Quash Syrian Rebels? Report Reveals...
Date
12/16/2024 5:00:44 AM
(MENAFN- Live Mint) Bashar Al Assad, the ousted Syrian President, reportedly sent approximately $250 million in cash to Moscow between 2018 and 2019, highlighting the financial ties between his Regime and Russia during the ongoing Syrian Civil War. This transfer, conducted in both US Dollars and Euros, underscores the reliance of Assad's government on Russian support amid crippling sanctions and a dire shortage of foreign currency in Syria.
Russia was Assad's lifeline ever since the Civil War broke out in Syria in 2011.
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Details of Cash Transfers Between Syria, Russia According to a report by the Financial Times , records indicate that the Syrian Central Bank facilitated flights carrying nearly two tonnes of cash to Vnukovo Airport in Moscow.
The 'cash' funds were deposited at the Russian Financial Corporation Bank (RFK), a lender controlled by Rosoboronexport, the state arms export company.
The transfers occurred during a critical period when Russian military assistance was instrumental in stabilising Bashar al-Assad's regime against rebel forces in Syria.
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The cash deliveries between Damascus and Moscow were particularly notable between March 2018 and September 2019, following Russian efforts to repel insurgents from Damascus.
The unusual nature of these transactions highlights how Russia became a key destination for Syria's cash flow as Western sanctions intensified.
Cash Deliveries from Damascus to Moscow The records as seen by Financial Times, reveal that al-Assad's regime executed multiple flights transporting significant amounts of cash to Russia.
For instance, on May 13, 2019, a plane carrying $10 million ( ₹84.85 crores) in $100 bills arrived in Moscow.
In February 2019 the Syrian Central Bank flew in around €20mn ( ₹178.19 crores) in €500 notes. In total there were 21 flights from March 2018 to September 2019 carrying a declared value of over $250mn ( ₹2,120 crores), Financial Times reported.
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