Canada and UK impose similar sanctions for Riad Salameh.
The Department of the Treasury has sanctioned the former governor of Lebanon’s central bank Riad Salameh for secretly investing hundreds of millions of Lebanese money into European real estate. The United States timed the imposition of this sanction to match similar actions taken by the United Kingdom and Canada, displaying a unified front against Salameh’s financial corruption.
“By using his position to enrich himself, his family, and his associates in apparent contravention of Lebanese law, Salameh contributed to Lebanon’s endemic corruption and perpetuated the perception that elites in Lebanon need not abide by the same rules that apply to all Lebanese people,” said Treasury Under Secretary for Terrorism and Financial Intelligence Brian Nelson.
He added, “We are joining the United Kingdom and Canada in imposing sanctions on the former governor because he used his position to place his personal financial interests and ambitions above those of the people he served, even as the economic crisis in Lebanon worsened.”
As the Lord Leads, Pray with Us…
- For Under Secretary Nelson as he oversees the Terrorism and Financial Intelligence Office.
- For Secretary Yellen as her department collaborates with foreign governments regarding sanctions.
Sources: Department of the Treasury
