France, Syria negotiate historic return of confiscated Assad-era assets

Paris and Damascus have opened negotiations over the transfer of €32 million ($37 million) to Syria following the confiscation in France of assets belonging to former Syrian vice president Rifaat Al Assad, The National has reported.

According to a French diplomatic source, the discussions are based on the principle that misappropriated public money should ultimately benefit those from whom it was taken. “The idea is that the money stolen by a corrupt regime should return to the people it stole from,” the source told The National. “These funds will finance development projects agreed with the Syrian authorities with direct impacts for the Syrian population.”

The talks began this week during a visit to Paris by a Syrian delegation led by Deputy Justice Minister Mustafa Al Qasim and Attorney General Hassan Youssef Al Turbah. Officials on both sides are aiming to finalise an agreement before the end of the year.

Speaking on the sidelines of the meetings, Mr Al Qasim said France had expressed its intention to channel the confiscated funds back to Syria for reconstruction-related purposes. “The French government says they want to return confiscated funds to Syria to benefit the reconstruction of the country or at least basic infrastructure,” he told The National.

Rifaat Al Assad, the uncle of Syrian President Bashar Al Assad, was convicted in France in 2022 and sentenced to prison for embezzling Syrian state funds and using the proceeds to build a vast property portfolio across Europe. His assets in France alone were estimated at around €90 million ($106 million), and he also owned property in the United Kingdom and Spain. Rifaat Al Assad died in January at the age of 88.

If completed, the transfer would mark a precedent-setting move and send what observers describe as a strong signal in favour of accountability in Syria. “It's the first time that funds looted by the former authorities would be returned to the Syrian state,” said Mohammad Al Abdallah, a lawyer and director of the Syria Justice and Accountability Centre, which organised the meetings in Paris. “It is a very important opportunity for us to establish the solid foundations for such a process,” he added.

France is among a small number of countries with a legal framework that allows for the restitution of proceeds from the sale of assets deemed to be ill-gotten and seized by the state. Under a law adopted in 2021, such funds must be allocated to development projects that benefit local populations. Despite its existence, the legislation has never previously been applied.

A representative of the French Justice Ministry told The National that the ministry has so far overseen the sale of confiscated assets belonging to Rifaat Al Assad worth €47 million. They declined to provide further details on individual transactions, citing confidentiality. The figure exceeds the €32 million currently under discussion because not all proceeds from the sales have yet been transferred to the state budget, and additional asset sales are expected.

French sources said that during earlier discussions with French officials, Syrian Foreign Minister Asaad Al Shibani suggested the funds could be used to support transitional justice initiatives or agricultural projects. Syria is currently facing a severe drought and shortages of wheat. No final decision has yet been taken on how the money would ultimately be allocated.

By Tamilla Hasanova