US ‘Caesar Act’ sanctions could devastate Syria’s flatlining economy
15th June 2020
US ‘Caesar Act’ sanctions could devastate Syria’s flatlining economy
Its currency has plunged by 70% since April, more than half its people face food scarcity, and hopes of rebuilding a country shattered by war continue to ebb. Syria seems barely able to absorb new shocks, but new US sanctions that take effect next week, could devastate what is left… Read More
Lebanon adopts law to lift banking secrecy for officials
29th May 2020
Lebanon adopts law to lift banking secrecy for officials
Lebanon’s parliament Thursday adopted a law to lift banking secrecy for public officials including over corruption or funding “terrorism”, a lawmaker said, after months of protests in the crisis-hit country. But the final text did not allow judges to independently order a disclosure, in a last-minute change that an activist… Read More
St. Kitts and Nevis citizenship scheme gets a lift from coronavirus pandemic
24th May 2020
St. Kitts and Nevis citizenship scheme gets a lift from coronavirus pandemic
If you have been dreaming of getting away from the uncertainty caused by the coronavirus pandemic, you can — provided you have some cash in hand. For the starting sum of $150,000, you can buy your citizenship of the pristine Caribbean islands of Saint Kitts and Nevis. With their pure… Read More
Lebanese Central Bank official charged in currency probe
19th May 2020
Lebanese Central Bank official charged in currency probe
AP — A Lebanese prosecutor on Monday charged a senior central bank official with manipulation of the exchange rate and money laundering as part of an ongoing probe amid the country’s financial turmoil. The move reflects a growing clash between the central bank and the government at a critical time,… Read More
Lebanon’s relaxed cannabis laws ‘could lead to more corruption’
23rd April 2020
Lebanon’s relaxed cannabis laws ‘could lead to more corruption’
Lebanon’s legalisation of cannabis for medical use has been praised by politicians who highlighted its potential to shore up the state’s debt-ridden coffers, but locals and specialists warned that it could increase corruption. MP Antoine Habchi, who worked on a draft version of the bill, said it was a “major… Read More
Hezbollah steps up campaign for control of Lebanon’s financial system
15th April 2020
Hezbollah steps up campaign for control of Lebanon’s financial system
Hezbollah is stepping up a campaign to place allies at the heart of Lebanon’s financial authorities as the US seeks to disrupt the armed group’s financial networks, four senior Arab financiers said on Thursday. The outcome of the political battle could extend Hezbollah’s reach to the nerve centre of Lebanon’s… Read More
Sanctioned Hezbollah agent has close ties to Iran’s money laundering network in Iraq
6th April 2020
Sanctioned Hezbollah agent has close ties to Iran’s money laundering network in Iraq
A shadowy Hezbollah intelligence operative in Iraq has close ties to what the US refers to as a key money-laundering network by the Islamic Revolutionary Guard Corps’ Quds Force, an investigation by The National has found. In November 2018, the US sanctioned Mohammad Abd Al Hadi Farhat, saying the Lebanese… Read More
U.S. Blacklists Lebanese Companies, Individuals With Alleged Ties to Hezbollah
27th February 2020
U.S. Blacklists Lebanese Companies, Individuals With Alleged Ties to Hezbollah
The Trump administration’s blacklisting Wednesday of several Lebanese individuals and companies for allegedly helping Iran-backed Hezbollah highlights Washington’s strategy to counter a U.S.-designated terror group. The Treasury Department blacklisted three officials and 11 entities linked to the Lebanon branch of the Martyrs Foundation, a group the U.S. designated in 2007… Read More
US lawmakers introduce bill requiring sanctions against Lebanese officials
26th February 2020
US lawmakers introduce bill requiring sanctions against Lebanese officials
Democratic Sen. Jeanne Shaheen and Republican Sen. Ted Cruz on Monday introduced legislation requiring “biting” sanctions against Lebanese officials who have been involved in what they call the “unlawful detention and abuse” of U.S. citizens. The Zero Tolerance Act is being filed in response to the Lebanese government’s months-long holding… Read More
Paying Off Van Gogh and Fu Fu: Inside the Airbus Bribery Web
3rd February 2020
Paying Off Van Gogh and Fu Fu: Inside the Airbus Bribery Web
Airbus SE has long since disbanded the so-called strategy and marketing unit at the center of its record $4 billion bribery settlement, but for years it had quite a heyday. According to documents filed by U.S. prosecutors on Friday, the 150-person team used its $300 million annual budget… Read More
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