- The UK sanctions the former Governor of the
Central Bank of Lebanon, and three
associates, for diverting over
$300m of the Bank’s funds for personal gain.
- The sanctions
against Riad Salameh and his close
associates, including his brother, are coordinated
with the US and Canada.
- The UK’s Minister for the Middle East Lord
Ahmad calls on Lebanon’s leaders to urgently bring
about real reform and fight corruption at the
top to set Lebanon on the path to economic
recovery.
Today, the UK, US and
Canada have announced coordinated sanctions
against Riad Salameh, Lebanon’s former Central
Bank governor, and three of his close
associates, for their role in
the diversion of over $300m from the Bank.
Riad Salameh’s actions
benefited himself and his close
associates at the expense of the Lebanese
people. His brother Raja Salameh, former
assistant Marianne Hoayek and former
partner Anna Kosakova financially benefited from this
corruption, lining their pockets with money belonging
to the Lebanese people. All four individuals have been
handed travel bans and asset freezes.
The
UK has coordinated these sanctions with
our key partners the US and Canada. This
demonstrates the UK’s
commitment to combat corruption in Lebanon.
Minister of State for the Middle East, Lord Ahmad said:
Riad Salameh and his close associates have stolen from
people of Lebanon and deprived them of resources crucial to
its economic and social stability.
The UK is dedicated to fighting for justice and
accountability for Lebanon and the Lebanese people. The
only way to put Lebanon on the path to much-needed
economic recovery is for its leaders
to stamp out corruption and implement real
reforms.
Corruption and a lack of reform have led to a devastating
economic crisis in Lebanon - cited by the World Bank as one of
the worst in modern history. This has plunged over 80%
of the population into poverty. Lebanon ranks 154 out of 180
on the Transparency International Global Corruption Perception
Index.
This is the first time the UK government has used the Global
Anti-Corruption Sanctions regime against individuals
involved in corruption in Lebanon. Since its
introduction in April 2021, the UK has introduced sanctions
against 39 individuals and entities under this
regime globally to combat corruption across the world.
Further information:
- These designations do not apply to the Central Bank of
Lebanon as an institution or UK correspondent banking
relationships.
- According to allegations in a Swiss investigation, since at
least April 2021 Riad Salameh as the Governor of
the Central Bank of Lebanon and his brother Raja Salameh
‘organised embezzlement operations’ in the Central Bank of
Lebanon ‘exceeding $300m’.
