Lebanon Businessnews News

DK Group blacklisted
by Washington
The company denies its involvement in Syria
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DK Group, a Beirut-based company, specialized in the development and manufacturing of highly secure banknotes, was accused by the US Department of the Treasury to have arranged to ship Syrian pound banknotes from Russia to the Central Bank of Syria.

DK Group, and its general manager Jad Dagher, were accused of materially assisting, sponsoring, or providing financial, material, or technological support for, or goods or services in support of the Government of Syria, according to a statement by the US Department of the Treasury.

“I confirm that such business did not happen,” said Dagher. “The relationship between the Russians and Syrians is older than our involvement. In short, DK was not involved in the Syrian market,” he said. According to him, DK Group has global customers and even provides the Central Bank of Lebanon with banknotes.

The US Department of the Treasury accused DK Group, Goznak's official regional representative, by facilitating the transportation of the banknotes from Russia to Syria via third-country cargo flights.

“We are not responsible for the transportation services in any market, and not only in Syria” said Dagher. “In all contracts, the relationship happens directly between Goznak and the client,” he said.

“Among the blacklisted companies, our name might have been mentioned because it is linked to the Russian company across the region. Those are political sanctions from the US government and we intend to contact the US authorities to reverse their decision,” said Dagher.
Reported by Leila Rahbani
Date Posted: Oct 21, 2014
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