Syria’s long-time dictator Bashar al-Assad reportedly transferred around £200 million in cash to Russia before fleeing Syria for exile in Moscow.
According to a bombshell report from the Financial Times, Assad’s regime airlifted the money between 2018 and 2019 in 21 separate flights.
These flights, carrying a total of $250 million in U.S. dollars and euros, were made at a time when Syria was heavily reliant on Russian military support, including the assistance of mercenaries from the Wagner Group.
The shipments, which totaled two tonnes of banknotes, were delivered to Moscow’s Vnukovo airport for deposit in Russian banks.
The airlifts occurred as Assad’s family was reportedly buying luxury properties in Moscow, further cementing the financial ties between the two nations.
The regime was accused of looting Syria’s resources and turning to criminal activities to fund its ongoing brutal war against its own people.
The Financial Times uncovered records showing that between March 2018 and September 2019, the Syrian central bank sent large shipments of cash, including $10 million in $100 bills and €20 million in €500 notes.
These transfers were made due to Syria’s depleted foreign reserves and the severe sanctions imposed by the international community.
With limited options, the Syrian government resorted to paying for essentials such as wheat from Russia and money printing services in cash.
READ ALSO: CNN Faces Backlash Over Alleged Fake Rescue of Syrian ‘Hidden Prisoner’
The scale of the operation points to a desperate attempt by Assad’s regime to secure resources amid an ongoing economic collapse and international isolation.
Despite sanctions, Assad continued to funnel cash into Russia, relying on Russian banks like Financial Corporation Bank (RFK) and TsMR Bank, which are both linked to Russian arms exports and have been sanctioned by the U.S. government.
This financial scandal comes amid increasing disillusionment among some of Assad’s former loyalists.
Many have expressed anger over his decision to flee to Moscow, viewing it as an act of self-preservation that leaves the Syrian people to endure the aftermath of years of conflict.
Critics see Assad’s actions as proof of his self-interest over the welfare of his own country and its citizens.
The relationship between Russia and Syria has been growing since 2015 when Russia’s military intervention helped turn the tide in favor of Assad’s regime.
In exchange for support, Russia has secured lucrative contracts in Syria’s phosphate industry and expanded its influence in the region.
Allegations have also surfaced that the Assad regime has profited from international drug trafficking and fuel smuggling.
As tensions rise, this latest revelation is yet another chapter in the ongoing saga of Assad’s controversial leadership and his deepening ties with Russia, which are fuelling further unrest and distrust both domestically and internationally.