Featured Lebanon

Iranian fuel tanker heading for Syria poses test for US sanctions

An Iranian tanker carrying fuel bound for Lebanon was at anchor in the Red Sea on Friday ahead of the final leg of a voyage to Syria, which is set to pose the biggest test yet to US sanctions imposed on two arch regional foes. The tanker is expected… Read More

Lebanon’s Hezbollah agrees to third shipment of Iranian fuel

The leader of Lebanon’s Iran-backed Hezbollah group, Sayyed Hassan Nasrallah, said on Friday a third vessel of Iranian fuel was agreed to ease crippling shortages in the country. “We have agreed to start loading a third vessel,” Nasrallah said in a televised speech. “The coming days will prove those doubtful… Read More

Lebanese prosecutor requests documents from Salameh, source says

A Lebanese prosecutor asked central bank governor Riad Salameh for documents relating to suspicions of embezzlement, money laundering and tax evasion but did not question him on Thursday in the absence of a lawyer, a senior judicial source said. Salameh has dismissed previous corruption allegations against him as a smear… Read More
2nd August 2021
The EU said in a statement that the framework provided for the possibility of imposing sanctions on those responsible for undermining democracy or the rule of law in Lebanon. “It is … of the utmost importance that the Lebanese leadership put aside their differences… Read More
28th July 2021
The EU is pushing ahead to finalise a package of sanctions on Lebanon despite Monday’s nomination of Najib Mikati as prime minister-designate, European diplomats have told The National. Several officials told The National that, although they noted this week’s movement on forming a new Lebanese government, they were sceptical… Read More
20th July 2021
A prosecutor in Lebanon has summoned central bank chief Riad Salameh for questioning next month over corruption allegations, a judicial source said on Monday. Mr Salameh, one of world’s longest-serving central bank governors, is facing a series of allegations, including from Switzerland, France and Britain, over suspicions of money laundering,… Read More
20th July 2021
Syrian President Bashar al-Assad said on Saturday the main impediment to investment in the country was money stuck in ailing Lebanese banks. In a speech after being sworn in as president for a fourth term, Assad said estimates suggested the frozen funds were worth between $40 billion and $60 billion. Read More
6th July 2021
By Saurnas Cerniauskas, OCCRP, 6 July 2021 OCCRP — Days before the European Union imposed sanctions on Belarusian oligarch Aliaksei Aleksin over his links to Alexander Lukashenko’s regime, his family sold its Cyprus-based company along with a bank to a Lebanese businessman, this way saving both… Read More
4th July 2021
Lebanon continues to unravel as its economic and political crisis worsens. The country has not had a government for almost a year now and its economy is in the process of collapsing after decades of mismanagement and corruption. Over the past month, there have been stories both absurd… Read More
24th June 2021
A year after the head Byblos Bank’s ethics and anti-fraud department was found stabbed to death near his home in Hazmiyeh, an investigation by Lebanese police has concluded only that nothing had been stolen during the attack and no motive was readily apparent, the Financial Times… Read More
21st June 2021
The European Union’s foreign policy chief told Lebanon’s leaders on Saturday they were to blame for the country’s political and economic crisis and some could face sanctions if they continue to obstruct steps to form a new government and implement reform. Speaking after what he called a “frank exchange” with… Read More
11th June 2021
In a speech seen as an act of defiance against the Lebanese state and the US, Hezbollah leader Hassan Nasrallah on Wednesday insisted that Lebanon should be “negotiating with Iran to buy gasoline and diesel with the Lebanese currency if Lebanon’s shortages persist.” Seemingly unconcerned about the possibility that this… Read More
7th June 2021
France has opened a probe into the personal wealth of Riad Salameh, central bank chief in crisis-hit Lebanon, sources told AFP on Sunday. Paris financial prosecutors have opened a preliminary probe into criminal association and money laundering by Salameh, a source close to the investigation and a judicial source said,… Read More