Thursday, June 7, 2012

Making Money in Syria's Civil War

Syria's war profiteers are cashing in on three things: real estate, heating gas and diesel. Here, a street scene in Damascus. Reuters

Syrian War Profiteers Cash In on Insurgency -- Spiegel Online

EU sanctions were designed to undermine rich businesspeople propping up the Assad regime in Syria. But they are actually helping entrepreneurs with close ties to the government. Syrian profiteers are cashing in by buying up real estate at bargain prices and selling natural gas and diesel.

When Yousef Katt (not his real name) discusses the war in Syria, he merely refers to it as al-wada, or "the situation." And for this businessman, it's not a bad situation at all.

In fact, these days, Katt is constantly busy. Even on weekends, you'll find him wearing slacks and a pressed shirt just in case someone calls and asks him to help sell their house. If the house lies in one of Damascus' better neighborhoods, Katt will drive over to look at it. He gives the building a once-over, tells the owner he will think about whether he's interested, and leaves. He can afford to be picky.

These days, there are many who have to sell their houses -- but few who can buy them. Katt is one of these few.

Read more ....

My Comment: I wold also add weapons and the purchasing of valuables (i.e. gold, diamonds, art, etc.) to this list.

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