The U.S., U.K., and Canada Sanction Former Central Bank Governor of Lebanon

On Thursday, the U.S., U.K., and Canada sanctioned Riad Salameh, the former governor of Lebanon's central bank, on charges of financial corruption. The U.S. Treasury Department stated, "[Salameh's] corrupt and illegal actions have contributed to the collapse of the rule of law in Lebanon." In addition to Riad Salameh, four individuals close to him, including relatives and his main deputy, have also been sanctioned. According to the statement, "Salameh abused his position and likely violated Lebanese laws, investing millions of dollars through shell companies in the European real estate sector and amassing wealth for himself and his close associates." The U.S. State Department, while announcing the sanctions against Salameh and the four individuals, stated that these individuals "have enriched themselves at the expense of the people of Lebanon" and prioritized their personal interests over those of the Lebanese people. The U.S. State Department emphasized that the Central Bank of Lebanon has not been sanctioned and reiterated Washington's commitment to assisting the people of Lebanon, welcoming cooperation with partners, allies, civil society, and those Lebanese political elites who prioritize their country's interests over personal gains. In addition to the United States, the U.K. and Canada have also sanctioned Salameh, who served as the governor of Lebanon's central bank for 30 years since 1993. Salameh resigned from his position last month amid the collapse of Lebanon's banking sector and allegations of corruption both domestically and internationally. French and German officials also issued an arrest warrant for Riad Salameh in May of this year. Interpol has indicated that Salameh is wanted by these two countries on money laundering charges. In response to the sanctions, Salameh denied the allegations in correspondence with Reuters and stated that he would appeal them. He added that some of his assets had been frozen in previous investigations. He previously claimed that he was being made a scapegoat to cover up the financial crisis in Lebanon. The collapse of Lebanon is the result of decades of financial corruption and the embezzlement of state funds by power factions. Many Lebanese believe that Salameh and the power factions are responsible for this collapse, which has led to a 98% drop in the national currency's value. Riad Salameh, his brother Raja Salameh, and Marian Hawik were accused of money laundering, embezzlement, and illegal wealth accumulation in Lebanon last February. The International Monetary Fund has warned about Lebanon's "deep crisis". Lebanon is likely to be added to the FATF's "grey list". The agreement between Israel and Lebanon regarding the maritime borders of the two countries. Concerns from the head of Lebanon's national security about "political paralysis" and "social collapse": election results could be catastrophic. Criticism from the Vatican envoy regarding the ruling class in Lebanon exploiting the "suffering of the people"; Beirut "does not have money to run embassies."