Friday, August 19, 2011

Robert Fisk: It's his fast-disappearing billions that will worry Assad, not words from Washington

Nearly 10 per cent of Syria's deposits went in the first four months of 2011, some ending up in Lebanese banks
The real fear for Bashar is not oil sanctions but banks – especially the £12bn in foreign reserves that existed in Syria's Central Bank in February, a sum which is now being depleted by around £50m a week. In May, Syria's foreign minister – the mighty (physically) Walid Moallem – asked Baghdad for cheap Iraqi oil. Nearly 10 per cent of Syria's banking deposits disappeared in the first four months of 2011; £1.8bn was withdrawn, some of it ending up in Lebanese banks.
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