The Syrian regime is setting up shell companies in a systematic attempt to avoid sanctions, according to official documents obtained by the Guardian.
Complicating the ownership structure of businesses in Syria increases the complexity in untangling the role they have in bolstering the regime’s finances and makes it more difficult for foreign powers to impose sanctions effectively on the government’s inner circle. Each of the new shell companies, established in October 2021 – Trappist, Generous and Super Brandy – is majority owned by an individual linked to the Syrian regime by an intricate web of connections., said: “It is important [to continue to track shell companies] as it is part of the asset freeze and drying-up of resources the regime is using to violate human rights in Syria.