Syrian Lebanese bank rejects U.S. sanctions
Click here to add Bashar Assad as an alert
Disable alert for Bashar Assad,
Click here to add Beirut as an alert
Disable alert for Beirut,
Click here to add Central Bank of Lebanon as an alert
Disable alert for Central Bank of Lebanon,
Click here to add Commercial Bank of Syria as an alert
Disable alert for Commercial Bank of Syria,
Click here to add SLCB as an alert
Disable alert for SLCB,
Click here to add Studies and Research Center as an alert
Disable alert for Studies and Research Center,
Click here to add Tanchon Commercial Bank as an alert
Disable alert for Tanchon Commercial Bank,
Click here to add U.S. Treasury as an alert
Disable alert for U.S. Treasury,
Click here to add U.S. Treasury Department as an alert
Disable alert for U.S. Treasury Department,
Click here to add Washington as an alert
Disable alert for Washington
BEIRUT: A Beirut-based subsidiary of Syria’s state-owned Commercial Bank of Syria, added to a list of U.S. sanctions targets last week, said Wednesday it had done nothing illegal and was confident its clients would ignore Washington’s measure.
The U.S. Treasury Department announced sanctions against Syrian Lebanese Commercial Bank and its main shareholder, Commercial Bank of Syria, on Aug. 10, freezing their U.S. assets and barring them from doing business in the United States.
The move was part of escalating U.S. pressure on Syrian President Bashar Assad over his repression of five months of street protests calling for his overthrow.
The U.S. Treasury said that the Commercial Bank of Syria had been targeted for providing financial services to Syria’s Scientific and Studies and Research Center and North Korea’s Tanchon Commercial Bank, which had itself been listed in 2005 for the support of weapons of mass destruction proliferation.
Rejecting what he called unfounded political allegations, SLCB chairman Doureid Ahmad Dergham said the bank’s activities were overseen by Lebanese regulators.
“SLCB is a Lebanese institution fully governed and controlled by the Central Bank of Lebanon and subject to supervision of the regulatory authorities,” the bank’s chairman said in a statement.
The bank had “never had any operation with neither a North Korean nor Iranian entity” and denied any accusation of “any illegal activity with any suspected country.”
The chairman added that SLCB’s correspondent banks and clients knew there was no evidence the bank had done anything wrong and expressed that he was confident they would ignore “those unfair sanctions.”
- Liquor traders, excise officials held
- Beirut rejects US-EU demand for Syrian withdrawal as Chirac says Lebanon controlled by ”Syrian spies”
- Lebanon committed to Syria and Iran sanctions, officials tell U.S.
- Allegations denied: US blacklists Lebanese firm for shipping banknotes to Syrian central bank
- U.S. Department of Treasury slaps sanctions on President Assad cousin