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 Treasury Targets Syrian Regime Financial and Weapons Networks


3/31/2015

Action Targets a Central Bank of Syria Official and

Three Cover Companies Linked to Syria’s Scientific Studies and Research Center

WASHINGTON – The U.S. Department of the Treasury today took action to further increase pressure on the Assad regime and to inhibit its weapons programs, consistent with the United States’ objective of advancing a negotiated political transition in Syria.  Batoul Rida, an official of the Central Bank of Syria (CBoS), has been designated pursuant to Executive Order (E.O.) 13582 for acting for or on behalf of, and providing support to, the Government of Syria that enable its military campaign against the Syrian people.  Additionally, Treasury designated the Syria-based front company Sigma Tech Company, Lebanon-based front company Shadi for Cars Trading, and Lebanon-based front company Denise Company, all pursuant to E.O. 13382, for acting for or on behalf of the Scientific Studies and Research Center (SSRC).  SSRC is a U.S.- and E.U.-sanctioned Syrian government agency responsible for developing and producing non-conventional weapons and ballistic missiles, and has had connections to the Syrian chemical weapons program.  Treasury is also publishing a new name used by Adib Mayaleh, the Governor of the CBoS, who was designated by the United States and the E.U. in 2012.

“The Assad regime is not only a gross violator of human rights – it also continues to engage in dangerous weapons proliferation,” said Acting Under Secretary for Terrorism and Financial Intelligence Adam J. Szubin.  “As today’s action demonstrates, we are determined to use our financial tools to raise the costs to the Syrian government of its illicit activities.”

Batoul Rida is an official at the CBoS and has worked for the CBoS since 2010.  In this capacity, she has been involved in the organization of cash transfers via couriers with U.S.-sanctioned Tempbank on behalf of the CBoS.  In addition, she works closely with, and has carried out tasks at the instruction of, CBoS Governor Adib Mayaleh and is involved in managing fuel-related deals for the CBoS. 

Syria-based Sigma Tech Company, Lebanon-based Shadi for Cars Trading, and Lebanon-based Denise Company are three cover companies used by the SSRC.  Sigma Tech Company has been involved in the shipments of polyethylene film for the SSRC, and Shadi for Cars Trading and Denise Company are both used as consignee companies for the SSRC.  The SSRC was listed in the Annex to E.O. 13382 in June 2005 for its ties to Syria’s weapons of mass destruction-proliferation activities.

Treasury today is also updating the entry on the list of Specially Designated Nationals and Blocked Persons (SDN List) for Adib Mayaleh.  Mayaleh was designated by the United States in July 2012 for being a senior official of the Government of Syria.  His listing on the SDN List has been updated to include the name Andre Mayard as a new alias for Mayaleh.

For identifying information, please click here.

 

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