Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Palestinian Prisoners' Information Office: Four of his ribs were broken
Palestinian Prisoners' Information Office: Marwan al-Barghouti lost consciousness after a brutal assault by Israeli occupation soldiers
Al Mayadeen's correspondent: Israeli violations in the Gaza Strip have not stopped, and just a short while ago, fishermen came under fire from boats
Al Mayadeen's correspondent: Israeli occupation forces carry out a large explosion in the eastern neighborhood of the town of Mays al-Jabal in southern Lebanon.
Israeli media: Israeli political leadership decides to open Rafah crossing “as planned” and transfer aid to Gaza Strip.
Palestinian media: Three Palestinians were killed after being targeted by Israeli drone fire in the al-Shujaiya neighborhood east of Gaza City
Nicolas Maduro: The Palestinian cause is the most sacred cause for humanity, and we propose sending teams of builders, farmers, and doctors to Gaza to help the people
Al Mayadeen's correspondent in Lebanon: IOF infiltrate Khallet Wardeh towards the municipality in the town of Aita al-Shaab, south of Lebanon.
Leaders of the United States, Egypt, Qatar, and Turkey sign a ceasefire agreement in Gaza.
Trump arrives in Sharm el-Sheikh

US issues new sanctions on Syria, targets two money service businesses

  • By Al Mayadeen English
  • Source: Agencies
  • 30 May 2023 20:08
  • 1 Shares
3 Min Read

The two Syrian monetary services businesses, Al-Fadel Exchange and Al-Adham Exchange Company, have been designated by the US as being in violation of the Caesar Act.

  • x
  • The US Treasury Building is viewed in Washington, US on May 4, 2021. (AP)
    The US Treasury Building is viewed in Washington, US on May 4, 2021. (AP)

Despite Syria's resumption of participation in the Arab League, the US designated, on Tuesday, the Syrian monetary services businesses, Al-Fadel Exchange and Al-Adham Exchange Company, in violation of the Ceasar Act, for allegedly playing a role in helping the Syrian government and people bypass previously imposed punitive sanctions and have thus come, in turn, under sanctions.

The statement of the US Treasury Department accused Al-Fadel Exchange and Al-Adham Exchange Company of assisting Syria's government maintain access to the international financial system.

The US Treasury Department in a statement accused Al-Fadel Exchange and Al-Adham Exchange Company of having "secretly helped the Syrian regime under Bashar al-Assad and its Hizballah and Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) allies maintain access to the international financial system."

Read more: Syria Arab League readmission is in defiance of US warnings: Bloomberg

US lawmakers propose bill to ban ties with Syria, expand Caesar Act

US lawmakers Reps. Joe Wilson and Steve Cohen, alongside several other members of the House, introduced a bill, on May 11, to ban the United States from normalizing diplomatic ties with Syrian President Bashar Al-Assad’s government and even impose sanctions on the regional countries that do.

Related News

Trump lifts sanctions on Syria, then slaps country with 41% tariffs

US formally lifts sanctions on Syria, aiming for reconstruction

The bill, which comes amid Syria’s readmission to the Arab League, would ban “any federal government department or agency from recognizing or normalizing with any government in Syria led by Bashar al-Assad” and broaden the Caesar Act that imposed sanctions on Syria back in 2020.

The proposal would call for “an annual strategy for five years to counter normalization” with Syria by the countries which have shown initiative to develop ties. 

On the bill and in his statement, Michael McCaul, chairman of the House Foreign Affairs Committee, said, “The United States must use all of our leverage to stop normalization with Assad,” adding, “I am proud to join my colleagues in mandating further sanctions against any form of investment in territory under the control of Assad."

A senior US congressional staffer working on the bill was cited by media as saying that the bipartisan bill was a warning to Turkey and Arab nations of severe consequences in case they engaged with Syria.

"The readmission of Syria to the Arab League really infuriated (Congress) members and made clear the need to quickly act to send a signal," the staffer highlighted.

On May 10, Saudi Arabia's King Salman bin Abdulaziz invited the Syrian President to participate in an Arab League summit scheduled in the country next week on May 19. 

The Syrian President considered that the summit "will enhance joint Arab action to achieve the aspirations of the Arab peoples," the statement indicated.

The Kingdom severed ties with the Syrian government in 2012. However, in April, Saudi Foreign Minister Prince Faisal bin Farhan met with Al-Assad in Damascus on the first such visit since the war on the country broke out.

Read more: US to target crowded places in Syria via terrorist attacks: Russia SVR

  • US sanctions on Syria
  • us sanctions
  • Caesar Act

Most Read

Iran strikes secret Israeli-US bunker under Tel Aviv high-rise

Tel Aviv high-rise struck by Iran hid Site 81, secret US-Israeli base

  • Politics
  • 14 Oct 2025
Palestinian journalist Saleh al-Jaafarawi in an undated image in Gaza, occupied Palestine (Social media)

Gaza Palestinian journalist Saleh al-Jafarawi killed by collaborators

  • Politics
  • 12 Oct 2025
Taylor Swift: The Life of a Showgirl

The Life of a No-Girl: The one verse Taylor Swift refuses to sing

  • Arts and Culture
  • 8 Oct 2025
drop site

New report details extensive Israeli arson in Gaza after ceasefire

  • Politics
  • 13 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Freed Palestinian detainee al-Arida expresses gratitude to Al Mayadeen.
Politics

Freed Palestinian detainee Mahmoud al-Arida salutes Al Mayadeen

Prime Minister of Spain Pedro Sánchez gestures as he speaks at the Global Progress Action Summit, in London, Friday, September 26, 2025 (AP)
Politics

Spain to maintain arms embargo on ‘Israel’ despite ceasefire

Israeli excavators work in the Gaza Strip as the sun sets, seen from southern occupied Palestine, Tuesday, Oct. 14, 2025 (AP)
Politics

Palestinian clans condemn chaos in Gaza, back security forces

The sun sets behind buildings destroyed during the Israeli aggression in the northern Gaza Strip, as seen from southern occupied Palestine, Tuesday, October 14, 2025 (AP)
Politics

Israeli regime cuts Gaza aid to 300 trucks, blocks fuel and gas

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS