President Sparks Anger After Blaming Lebanon for Syria’s Economic Crisis

Syrian President Bashar al-Assad has blamed the economic crisis in his country to Lebanon’s economic woes, sparking anger among some Lebanese political figures.

In particular, al-Assad said the seizure of money Syrians deposited in Lebanese banks was directly linked to Syria’s economic downfall.

"The siege has been going on for years — this does not mean that the blockade is a good thing and that the Americans are innocent — but the current crisis started several months ago,” al-Assad told the Producers 2020 Exhibition in Damascus.

"The crisis began before the Caesar Act but years after the blockade, so what coincided with it? The money that was seized," he said.

The Caesar Act, a package of sanctions the United States imposed on the Syrian regime and those who assist it and its businesses, came into force on June 17.

"At a minimum, these funds account for around US$20 billion, with an upper limit of $42 billion. We do not know what the real numbers are, but for an economy like Syria's, they are frightening."

Responding to the Syrian president’s statement, former Lebanese member of parliament Faris Saeed tweeted, "Bashar Al-Asad is linking the economic crisis in Syria to the banking crisis in Lebanon. He has forgotten about his crimes and the destruction of Syria as the Syrian premiere, as well as the displacement of six million people to neighboring countries as well as millions within Syria.”

The former MP called for the Syrian president, who he simply referred to as "this man" in his tweet, to appear before the international court immediately and without delay, as he has "sabotaged Syria and wants to sabotage Lebanon."

In the past, Syrian merchants regularly deposited money in Lebanese banks due to the great prosperity of the Lebanese banking sector and the close proximity between Damascus, Beirut, and the Bekaa regions.