Syrian businessman Samer Foz, once regarded as one of the most influential economic figures closely tied to the Assad regime, has reportedly left Syria for the United Arab Emirates after the collapse of a settlement deal with the Syrian government.
Sources told Sawt al-Asima that negotiations between Foz and Syrian authorities had been underway for months but ultimately fell through. The proposed settlement would have allowed Foz to remain in Syria and continue managing his business empire in exchange for depositing a significant sum into the state treasury. Following the breakdown of these talks, the state confiscated a large portion of his assets—including properties, companies, and vehicles.
The fallout from the failed deal did not end there. Exit bans were issued for dozens of individuals linked to Foz, including lawyers, minor business associates, and key figures who helped run his operations.
A Power Broker of the Assad Era
Samer Foz rose to prominence during the years of war and sanctions, becoming a central player in the regime’s shadow economy. Often described as a “frontman” for Bashar al-Assad and First Lady Asma al-Assad, Foz amassed immense wealth by facilitating controversial trade deals and exploiting wartime conditions.
He played a pivotal role in grain transactions between the Syrian government and Kurdish authorities, and was also accused of purchasing wheat from territories previously under ISIS control. In the post-2011 chaos, Foz’s companies acquired real estate on lands abandoned by displaced Syrians, further deepening allegations of profiteering from the conflict.
Foz also served as a key conduit for the import of Iranian oil into Syria, and expanded his commercial interests into sectors such as sugar production, pharmaceutical manufacturing, car assembly, fertilizers, and real estate development. His vast empire made him one of the primary enablers of the Assad regime’s economic survival under sanctions.
Sanctions and Global Scrutiny
Both the European Union and the United States have sanctioned Samer Foz and his network of companies for supporting the Assad regime. The U.S. Treasury accused Foz of building luxury developments on expropriated land and aiding regime elites in circumventing sanctions. Despite these measures, he remained in Syria until recent months—making his departure a significant development in the ongoing reshuffling of power and wealth under the country’s post-Assad political landscape.
His exit underscores a broader recalibration within Syria’s elite circles as the newly formed transitional government, led by Ahmad al-Sharaa, moves to reassert control over key economic sectors and dismantle the corrupt networks that flourished under the old regime.
Whether Foz’s exile is temporary or permanent remains unclear. What is evident, however, is that one of Assad’s most notorious economic allies has now become a casualty of Syria’s new political order.
This article was translated and edited by The Syrian Observer. The Syrian Observer has not verified the content of this story. Responsibility for the information and views set out in this article lies entirely with the author.
