Syrian President Bashar Al Assad with Russian President Vladimir Putin. Sergei Chirikov / AP
Syrian President Bashar Al Assad with Russian President Vladimir Putin. Sergei Chirikov / AP

US accuses Assad and Russia of staging chemical weapons attack in Aleppo



In a statement discrediting both the Assad regime's and Russian narrative of an alleged chemical weapons attack by the Syrian opposition in Aleppo last week, the US government has accused the regime of carrying a tear gas attack.

The statement, reported by The National on Tuesday, was released on Friday after days of deliberations between the White House and the State Department. It said that on "November 24, 2018, the Assad regime and Russia falsely accused the opposition and extremist groups of conducting a chlorine attack in north west Aleppo. "The United States strongly refutes this narrative and has credible information that pro-regime forces likely used tear gas against civilians in Aleppo on November 24."

The Syrian regime and Russia accused the Syrian opposition of carrying out a chemical weapons attack in Northwest Aleppo and launched air strikes on targets in opposition-held Idlib in retaliation.

But the United States has claimed it "has information indicating Russian and Syrian personnel were involved in the tear gas incident, and believes that both countries are using it as an opportunity to undermine confidence in the ceasefire in Idlib."

It also warned “Russia and the regime against tampering with the suspected attack site and urge them to secure the safety of impartial, independent inspectors so that those responsible can be held accountable.”

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The statement comes as US Special Representative for Syria James Jeffrey visits Jordan and Turkey, tensions between Moscow and Washington escalate over a number of issues, including Syria and Ukraine. Before the visit, Mr Jeffrey accused Russia of “playing a dangerous game accusing us [Washington] of playing a dangerous game [in Syria]”, and lamented its failure to make progress on the constitutional committee.

The US also expressed concern that the Syrian government was  trying to manipulate potential evidence of the attack as an investigative body attempted to access the site. "Pro-regime officials have maintained control of the attack site in its immediate aftermath, allowing them to potentially fabricate samples and contaminate the site before a proper investigation of it by the Organization for the Prohibition of Chemical Weapons," the statement read.

Britain similarly cast aspersions over the regime narrative of the Aleppo incident. A statement read, "The UK assesses it highly unlikely that chlorine was used in this incident, as the regime and its Russian allies have claimed. It is highly unlikely that the opposition was responsible."

"It is likely that this was either a staged incident intended to frame the opposition, or an operation which went wrong and from which Russia and the regime sought to take advantage."

"We frequently see the Syrian regime and its partners making false claims and using disinformation to cover their tracks. Allegations that the UK or its allies are in any way involved in this, or any other incident involving chemical weapons in Syria, are complete fabrications," it added.

The OPCW held a closed meeting on Tuesday.

Washington has been seeking European and regional support for its position to dispute both the Russian and Syrian government's version of events.

Meanwhile, Russia's embassy in Washington hit back on Facebook.

"The Russian Defense Ministry does not rule out that the US Department of State's allegations about the recent toxic chemicals attack in Syria's Aleppo are aimed at distracting the public attention from the crimes of the US aviation in the east of the Middle Eastern country," the post said.

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  • 3pm, UAE Conference: Dubai Tigers v Sharjah Wanderers
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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