In a shocking revelation, it has been uncovered that Syrian dictator Bashar al-Assad secretly airlifted an estimated £200 million to Russia in cash over a two-year period, between 2018 and 2019.
The illicit transfers, totaling over $250 million, were made in a series of 21 flights carrying vast sums of US dollars and euros, destined for Russian banks.
These records, revealed by The Financial Times, expose the hidden financial dealings at the height of Syria’s dependence on Russian military and economic support.
Between March 2018 and September 2019, Assad’s regime sent massive amounts of cash, including $10 million in $100 bills and €20 million in €500 notes, to Moscow’s Vnukovo Airport.
The cash was intended to support Syria’s ongoing war efforts, including military expenses and the purchase of wheat and other resources from Russia.
Despite Syria being heavily sanctioned by the West, the Assad regime had little choice but to use cash for transactions, as foreign reserves were nearly depleted by 2018.
This airlift of funds occurred at a time when Russia was deeply involved in Syria’s war, with Russian warplanes and military advisers playing a crucial role in bolstering Assad’s fight against rebel forces.
Reports also suggest that Assad’s family used this period to invest heavily in luxury properties in Moscow.
The financial transfers were not only controversial because of their sheer size, but also because they were funneled through Russian financial institutions with close ties to the state and sanctioned by the US.
The transfers were reported to be made to Russian lenders like the Financial Corporation Bank (RFK), which is linked to Russia’s state arms export company, Rosoboronexport.
As Assad now faces exile in Moscow, many former loyalists are angered, viewing his escape as a testament to his self-serving nature.
The regime’s ties with Russia have deepened over the years, culminating in this dramatic financial exodus, sparking outrage both within Syria and abroad.