HP-1075: Treasury Targets Rami Makhluf's Companies



	July 10, 2008 HP-1075 Treasury Targets Rami Makhluf's Companies Washington - The U.S. Department of the Treasury today added Syriatel, Syria's largest mobile phone operator, and Ramak, a chain of Syrian duty free stores, to its Specially Designated Nationals and Blocked Persons List. All property and interests in property of these entities are blocked as a result of the direct or indirect ownership interest of at least 50 percent by Rami Makhluf in each entity. "Rami Makhluf uses his access to high-level Syrian Government insiders to enrich himself at the expense of the Syrian people," said Adam J. Szubin, Director of the Office of Foreign Assets Control (OFAC). "We will continue to target Makhluf and his commercial empire as well as others who follow in his footsteps." Makhluf was designated on February 21, 2008 pursuant to Executive Order 13460, which targets individuals and entities determined to have contributed to, or to have benefited from, the public corruption of senior officials of the Syrian regime. Makhluf, a maternal cousin of Syrian president Bashar al-Asad, has exploited his relationships with Syrian regime members to amass his commercial empire. Makhluf has manipulated the Syrian judicial system and has used Syrian intelligence officials to intimidate business rivals. Pursuant to E.O. 13460, any assets in Syriatel's or Ramak's names held in the United States or within the possession or control of U.S. persons are blocked, and U.S. persons, therefore, are prohibited from engaging in business or transactions with Syriatel or Ramak. President George W. Bush issued E.O. 13460 on February 13, 2008 to take additional measures to address the threat to the national security, foreign policy, and economy of the United States posed by certain conduct of the Government of Syria. This new authority builds on E.O. 13338, which was issued by President Bush in May 2004, by targeting activities that entrench and enrich the Syrian regime and its cohorts thereby enabling the regime to continue to engage in threatening behavior, including actions that undermine efforts to stabilize Iraq. Corruption by the regime also reinforces efforts that deny the people of Syria political freedoms and economic prosperity, undercut peace and stability in the region, fund terrorism and violence, and undermine the sovereignty of Lebanon. Identifying Information RAMAK AKAs: Ramak Duty Free Shop Ltd Ramak Duty Free Shops Ltd. Ramak Duty Free Shops - Syria Ramak Duty Free Ramak Firm for Free Trade Zones Addresses: Ramak Duty Free Shop Ltd., Free Zone Area, Jamarek, PO Box 932, Damascus, Syria Ramak Duty Free Shops - Syria, Al Rawda Street, PO Box 932, Damascus, Syria Abu Ramana Street, Rawda, Damascus, Syria Damascus Duty Free, Damascus International Airport, Damascus, Syria Dara'a Duty Free, Naseeb Border Center, Dara'a, Syria Aleppo Duty Free, Aleppo International Airport, Aleppo, Syria Jdaideh Duty Free Complex, Jdaideh Yaboos, Damascus, Syria Ramak Duty Free Shop Ltd., Bab el Hawa Border Center, Aleppo Ramak Duty Free Shop Ltd., Lattakia Port, Lattakia Ramak Duty Free Shop Ltd., Tartous Port, Tartous Telephone: +963 11 2139222 +963 11 2138990 +963 11 2114666 Email: dam.d.free@net.sy Website: http://www.ramakdutyfree.net SYRIATEL AKAs: Syriatel Mobile Telecom SA Syriatel Mobile Telecom Syriatel Mobile SyriaTel Mobile Telecom Address: Doctors Syndicate Building, Al Jalaa Street, Abu Roumaneh Area, PO Box 2900, Damascus, Syria -30-