Syria

February 2008 | Ratings Update

After initially authorising new sanctions against Syrian officials on February 13, US President George W Bush has implemented new measures against a top Syrian businessman Rami Makhlouf, a first cousin of President Bashar al-Assad. Under the sanctions, any assets that Mr Makhlouf holds in US financial institutions will be frozen and any US citizens and firms are prohibited from engaging in any business contacts with him. Although Syria scores full marks in the international constraints category of our short-term ratings the recent deterioration in relations with the US, and Israel, poses a threat to this

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