Latest news with #ThomasBarrack
Free Malaysia Today
12 hours ago
- Business
- Free Malaysia Today
Syria expects first transfer with US bank ‘within weeks', says governor
The Syrian central bank has extended a formal invitation to US banks to re-establish correspondent banking ties. (EPA Images pic) DAMASCUS : Syria expects to have its first transaction with a US bank 'in a matter of weeks', Syrian central bank governor Abdelkader Husriyeh said today, a day after a high-level meeting between Syrian and US commercial banks. The resumption of transfers between Syrian and US banks would be a key milestone in the push by Syria's new rulers to reintegrate the country into the global financial system after 14 years of civil war. Yesterday, Husriyeh held a virtual conference bringing together Syrian banks, several US banks and US officials, including Washington's Syria envoy Thomas Barrack, with the aim of speeding up the reconnection of Syria's banking system to the global financial system. This follows US President Donald Trump's announcement in May that all sanctions on Syria would be lifted. That has been followed up with executive orders formally lifting some of the measures. Syria's reintegration into the global financial system would be a major step towards enabling the kind of large financial transactions needed to kickstart its reconstruction and economic activity, and help rein in a highly informal, cash-based economy. Husriyeh extended a formal invitation to US banks to re-establish correspondent banking ties following the ouster of former Syrian strongman Bashar al-Assad, whose crackdown on 2011 protests resulted in Western countries imposing one of the world's strictest sanctions regimes. 'We have two clear targets: have US banks set up representative offices in Syria and have transactions resume between Syrian and American banks. 'I think the latter can happen in a matter of weeks,' Husriyeh told Reuters. Among the banks invited to yesterday's conference were JP Morgan, Morgan Stanley and CitiBank, though it was not immediately clear who attended.
Free Malaysia Today
12 hours ago
- Politics
- Free Malaysia Today
‘Very bad decision' if Hezbollah joins Iran-Israel war, says US official
Hezbollah was severely weakened by the war with Israel, losing senior figures, thousands of fighters, and strategic sites in southern Lebanon. (AP pic) BEIRUT : A top US official visiting the Lebanese capital on Thursday discouraged Tehran-backed armed group Hezbollah from intervening in the war between Iran and Israel, saying it would be a 'very bad decision'. US special envoy for Syria Thomas Barrack, who also serves as ambassador to Turkey, met Lebanese officials in Beirut as Iran and Israel traded more strikes in their days-long war and as the US continues to press Lebanon to disarm Hezbollah. After meeting Lebanon's speaker of parliament Nabih Berri, a close ally of Hezbollah, Barrack was asked what may happen if Hezbollah joined in the regional conflict. 'I can say on behalf of President (Donald) Trump, which he has been very clear in expressing as has special envoy (Steve) Witkoff: that would be a very, very, very bad decision,' Barrack told reporters. Hezbollah has condemned Israel's strikes on Iran and expressed full solidarity with its leadership. On Thursday, it said threats against Iran's Supreme Leader Ayatollah Ali Khamenei would have 'dire consequences'. But the group has stopped short of making explicit threats to intervene. After Israel began strikes on Iran last week, a Hezbollah official told Reuters the group would not launch its own attack on Israel in response. Hezbollah was left badly weakened from last year's war with Israel, in which the group's leadership was gutted, thousands of fighters were killed and strongholds in southern Lebanon and near Beirut were severely damaged. A US-brokered ceasefire deal which ended that war stipulates that the Lebanese government must ensure there are no arms outside state control. Barrack also met Lebanese President Joseph Aoun on Thursday and discussed the state's monopoly on all arms. Barrack is a private equity executive who has long advised Trump and chaired his inaugural presidential committee in 2016. He was appointed to his role in Turkey and, in late May, also assumed the position of special envoy to Syria.
LBCI
a day ago
- Politics
- LBCI
President Aoun tells US envoy Barrack that Israel's withdrawal is key to stability, urges continued support for reforms
President Joseph Aoun told U.S. envoy Ambassador Thomas Barrack that Lebanon is counting on Washington's support for its efforts to recover across various sectors—starting with securing stability in the south through the withdrawal of Israeli forces from five occupied hills, ending hostile actions, and renewing the mandate of UNIFIL, which operates in coordination with the Lebanese army to implement U.N. Security Council Resolution 1701. Aoun affirmed that the Lebanese army deployed south of the Litani River continues to fully implement Resolution 1701 by removing armed presence, confiscating weapons and ammunition, and preventing any non-state armed groups. However, he said the army has been unable to complete its mission due to Israel's continued occupation of the five hills and surrounding areas. He also informed Barrack that Lebanon's reform process has begun and will continue, alongside anti-corruption efforts and the activation of state institutions to ensure they keep pace with national development goals.
Yahoo
a day ago
- Politics
- Yahoo
'Very bad decision' if Hezbollah joins Iran-Israel war, says US official
BEIRUT (Reuters) -A top U.S. official visiting the Lebanese capital on Thursday discouraged Tehran-backed armed group Hezbollah from intervening in the war between Iran and Israel, saying it would be a "very bad decision". U.S. special envoy for Syria Thomas Barrack, who also serves as ambassador to Turkey, met Lebanese officials in Beirut as Iran and Israel traded more strikes in their days-long war and as the U.S. continues to press Lebanon to disarm Hezbollah. After meeting Lebanon's Speaker of Parliament Nabih Berri, a close ally of Hezbollah, Barrack was asked what may happen if Hezbollah joined in the regional conflict. "I can say on behalf of President (Donald) Trump, which he has been very clear in expressing as has Special Envoy (Steve) Witkoff: that would be a very, very, very bad decision," Barrack told reporters. Hezbollah has condemned Israel's strikes on Iran and expressed full solidarity with its leadership. On Thursday, it said threats against Iran's Supreme Leader Ayatollah Ali Khamenei would have "dire consequences". But the group has stopped short of making explicit threats to intervene. After Israel began strikes on Iran last week, a Hezbollah official told Reuters the group would not launch its own attack on Israel in response. Hezbollah was left badly weakened from last year's war with Israel, in which the group's leadership was gutted, thousands of fighters were killed and strongholds in southern Lebanon and near Beirut were severely damaged. A U.S.-brokered ceasefire deal which ended that war stipulates that the Lebanese government must ensure there are no arms outside state control. Barrack also met Lebanese President Joseph Aoun on Thursday and discussed the state's monopoly on all arms. Barrack is a private equity executive who has long advised Trump and chaired his inaugural presidential committee in 2016. He was appointed to his role in Turkey and, in late May, also assumed the position of special envoy to Syria.
NDTV
a day ago
- Politics
- NDTV
Very Bad Decision If Hezbollah Joins Iran-Israel War: US Envoy To Syria
A top U.S. official visiting the Lebanese capital on Thursday discouraged Tehran-backed armed group Hezbollah from intervening in the war between Iran and Israel, saying it would be a "very bad decision". U.S. special envoy for Syria Thomas Barrack, who also serves as ambassador to Turkey, met Lebanese officials in Beirut as Iran and Israel traded more strikes in their days-long war and as the U.S. continues to press Lebanon to disarm Hezbollah. After meeting Lebanon's Speaker of Parliament Nabih Berri, a close ally of Hezbollah, Barrack was asked what may happen if Hezbollah joined in the regional conflict. "I can say on behalf of President (Donald) Trump, which he has been very clear in expressing as has Special Envoy (Steve) Witkoff: that would be a very, very, very bad decision," Barrack told reporters. Hezbollah has condemned Israel's strikes on Iran and expressed full solidarity with its leadership. On Thursday, it said threats against Iran's Supreme Leader Ayatollah Ali Khamenei would have "dire consequences". But the group has stopped short of making explicit threats to intervene. After Israel began strikes on Iran last week, a Hezbollah official told Reuters the group would not launch its own attack on Israel in response. Hezbollah was left badly weakened from last year's war with Israel, in which the group's leadership was destroyed, thousands of fighters were killed and strongholds in southern Lebanon and near Beirut were severely damaged. A U.S.-brokered ceasefire deal which ended that war stipulates that the Lebanese government must ensure there are no arms outside state control. Barrack also met Lebanese President Joseph Aoun on Thursday and discussed the state's monopoly on all arms. Barrack is a private equity executive who has long advised Trump and chaired his inaugural presidential committee in 2016. He was appointed to his role in Turkey and, in late May, also assumed the position of special envoy to Syria.
