Many businessmen emerged on the Syrian landscape whose business and investment activities are known to the Syrian public, including their relations with the ruling family. He became a business mogul unknown to Syrians, except for those who were familiar with his previous business activities. A few days later, Canadian Minister of Foreign Affairs, John Baird, announced freezing deposits and prevention of economic exchanges with the Altoun Group, and imposed personal sanctions on Salim Altoun and his assistant, Youssef Klesiyeh. Suspicious DealingsAs for the relationship between Salim Altoun and the oil industry, the Syrian businessman’s name was mentioned in Saddam Hussein’s list of contracts, according to what Enab Baladi has observed. She also founded the Altoun Cement Company, and built a cement factory in rural Damascus at a cost of US $200 million.

Source: Forbes May 18, 2019 19:03 UTC