Sharaa entrusts Syrian economy to brother and figure linked to terror financing

An investigation by the Reuters news agency has revealed that one of the leading figures of the secret committee shaping Syria’s new economic order is Ibrahim Succarieh, who is on Australia’s sanctions list for terror financing charges.

Succarieh’s brother, Ahmed, is known as the first Australian suicide bomber in Syria. His other brother, Omar, was sentenced to prison in Australia for sending tens of thousands of dollars to the Nusra Front.

It has been determined that all activities of this committee, established after the fall of Damascus and hidden from the public, are overseen by Hazem al-Sharaa, the older brother of Syria’s new leader, Ahmed al-Sharaa.

The committee is seizing key sectors of the country’s economy by making secret deals with capitalists who were accused of illicit gains during the Assad era and are on international sanctions lists.

Secret committee seized billions of dollars in assets

According to a Reuters investigation based on interviews with more than 100 capitalists, intermediaries, politicians, diplomats, and researchers, as well as financial records, emails, and new company registrations, this secret committee has so far seized assets worth over $1.6 billion.

This figure includes at least $1.5 billion in assets taken from three major capitalists and at least $130 million in shares from companies like the country’s main telecom operator, once controlled by Assad’s inner circle.

The committee’s existence and activities have never been announced by the government.

Although the new administration has dismantled the old security apparatus, the management of the economy by family members and individuals using aliases suggests that one palace oligarchy has been replaced by another.

The ‘sheikh’ who loves cricket and shawarma

The leader of the committee, who uses the codename Abu Maryam al-Australi, has been identified as Ibrahim Succarieh.

Succarieh, who sat with a pistol in his belt and spoke with a slight Australian accent during a meeting with a businessman in Damascus, presents himself on social media as “a businessman who loves cricket and shawarma.”

The Australian government confirmed to Reuters that Ibrahim Succarieh is on its sanctions list but declined to comment on whether it was aware of his current role, citing privacy reasons.

According to documents submitted by Australian prosecutors to the High Court, Succarieh left his hometown of Brisbane in 2013, one day before his brother Ahmed carried out a suicide truck bomb attack on an army checkpoint in Syria.

‘Machiavellian’ bargains with Assad-era capitalists: ‘We are not Fidel Castro’

Instead of bringing capitalists who amassed wealth during the Assad era to court, the committee has chosen to make private deals with them.

A committee member stated that it would be difficult to find sufficient evidence for convictions in complex financial cases from the Assad era and that they avoided the direct seizure of companies so as not to scare off potential investors.

Therefore, it was decided to negotiate with businessmen to raise cash and seize control of the economy seamlessly.

A banker familiar with the negotiations said the new rulers have adopted a “Machiavellian” approach, “not like Fidel Castro,” who nationalized Cuba’s economy.

These deals allow figures, including an airline boss linked to drug and arms trafficking and a capitalist accused of collecting scrap metal from towns vacated by the former Syrian army, to escape prosecution in exchange for a fee and to retain a portion of their profits.

Sharaa’s brother is at the head of the operation

The person overseeing this entire economic restructuring operation is Hazem al-Sharaa, the older brother of leader Ahmed al-Sharaa.

According to his LinkedIn profile, Hazem, who previously served as the general manager for PepsiCo in Erbil, Iraq, holds no official government position. However, he accompanied his brother on an official visit to Saudi Arabia in February and was the first person introduced to Saudi Crown Prince Mohammed bin Salman.

It is reported that Hazem al-Sharaa will also manage the national sovereign wealth fund, which leader al-Sharaa announced on July 9 would be established and report directly to him.

Four senior Western diplomats said that the concentration of economic power in the hands of shadowy figures with unknown pasts could hinder Syria’s efforts to reintegrate into the global financial system and deter foreign investment.

Meanwhile, capitalist Muhammad Hamsho, reached by Reuters, confirmed that he had met with the committee but stated he would not comment further until the deal is announced. “I encourage business leaders and investors to look at Syria. The country is embracing a free-market economy and offers fertile ground for diverse and promising investment opportunities,” Hamsho said.