A satellite image shows Syria's military-run Saidnaya prison, located 30 kilometres north of Damascus. CNES and ASTRIUM / Amnesty International via AFP
A satellite image shows Syria's military-run Saidnaya prison, located 30 kilometres north of Damascus. CNES and ASTRIUM / Amnesty International via AFP
A satellite image shows Syria's military-run Saidnaya prison, located 30 kilometres north of Damascus. CNES and ASTRIUM / Amnesty International via AFP
A satellite image shows Syria's military-run Saidnaya prison, located 30 kilometres north of Damascus. CNES and ASTRIUM / Amnesty International via AFP

US imposes sanctions on Syrian military prisons and Assad regime figures


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The US Treasury Department has placed sanctions on eight Syrian military prisons it says have been the sites of thousands of murders that occurred under the regime of President Bashar Al Assad.

The Treasury’s Office of Foreign Assets Control (OFAC) on Tuesday also sanctioned five senior officials from Mr Al Assad's intelligence apparatus who run the detention centres.

“The individuals and entities we are designating today have been a party to gross violations of Syrian human rights, including supervising the torture and killing of detainees,” OFAC Director Andrea Gacki told reporters.

“Bashar Al Assad and his brutal regime continue to extend the conflict in Syria by their brutal treatment of prisoners who oppose the regime’s oppressive policies and murderous activities.”

Ms Gacki added that the prisons “have been the site of horrific torture and thousands of murders".

She referenced the famous caches of grisly photos smuggled out of the country by “Caesar”, a regime defector who once worked as a photographer for the Syrian military.

Many of the sanctioned prisons are operated as branches of the Syrian Military Intelligence and the Syrian General Intelligence Directorate, Ms Gacki said.

In a statement, OFAC highlighted abuses at the Saidnaya military prison, which has a well-documented history of serious human rights horrors.

“Two buildings at the Saidnaya military prison site alone could contain as many as 10,000 to 20,000 detainees between them,” the statement read.

“Many prisoners have been denied food and water for prolonged periods of time and were subjected to extensive beatings. Thousands of Syrian regime dissidents reportedly have been extrajudicially executed in mass hangings at the prison and buried in mass graves.”

OFAC also sanctioned the armed group Ahrar Al Sharqiya — which operates in northern Syria and is accused of the 2019 killing of a Kurdish politician — for abuses against civilians and is sanctioning two of the group’s leaders.

“Ahrar Al Sharqiya has committed numerous crimes against civilians, particularly Syrian Kurds, including unlawful killings, abductions, torture and seizures of private property,” the Treasury Department said.

The agency said it was blocking any assets and banning any US transactions with Ahrar Al Sharqiya, a once obscure armed group that came into the spotlight when Turkey sent troops into northern Syria in October 2019 following talks with then-president Donald Trump.


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.”

German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

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Updated: July 28, 2021, 4:30 PM