France agrees to return Assad-era assets to Syria
Paris launches process to restore confiscated funds, deepen diplomatic ties and expand cooperation during Macron's landmark visit to Damascus
DAMASCUS, Syria (MNTV) – France has agreed to return more than €51 million ($58 million) in assets confiscated from members of the Assad family to Syria, marking the first implementation of a French law allowing the restitution of wealth seized from foreign officials convicted of illicit enrichment.
The agreement was announced during French President Emmanuel Macron’s historic visit to Damascus, where he met Syrian President Ahmad Al Sharaa and pledged broad political, economic and security support for Syria’s reconstruction.
Speaking at a joint press conference, Macron said the funds, seized from the assets of former Syrian Vice President Rifaat al-Assad, would be returned to the Syrian people to finance development projects across the country.
French Foreign Minister Jean-Noël Barrot and Syrian Foreign Minister Asaad Al Shibani signed a letter of intent launching the restitution process.
French officials said the transfer would be carried out under legislation adopted in 2021 that created a legal framework for returning proceeds from confiscated illicit assets to their countries of origin.
Rifaat al-Assad, uncle of former president Bashar al-Assad, was convicted by a French court in 2022 of embezzling Syrian state funds and using them to build a vast property empire in Europe. His assets in France have been valued at around €90 million.
The asset restitution formed part of a broader package of agreements signed during Macron’s visit, covering economic cooperation, education, healthcare, culture, justice, security and the preservation of Syria’s cultural heritage.
France also confirmed it would return 23 Syrian archaeological artifacts that had remained in Paris since the outbreak of Syria’s civil war after being loaned to France in 2010.
Macron became the first European Union head of state to visit Syria since the fall of Bashar al-Assad’s government in December 2024. He said France had consistently supported the Syrian people throughout the conflict and reaffirmed Paris’s commitment to helping rebuild the country.
The two governments also agreed to appoint ambassadors, formally restoring diplomatic representation between Paris and Damascus.
During the visit, Macron condemned continuing Israeli military incursions into Syrian territory as “unacceptable” and praised President Al Sharaa’s leadership amid ongoing regional and domestic security challenges.
The visit proceeded despite two explosions near Damascus’s Four Seasons Hotel, where Macron had stayed. Syrian authorities said 18 people were injured. The French president was meeting Al Sharaa at the Presidential Palace when the blasts occurred.
Macron said France was prepared to assist Syria in strengthening its counterterrorism capabilities, including the possible deployment of French special forces to train Syrian security personnel under a new security cooperation framework.
He also announced French support for rebuilding Syria’s banking sector to encourage foreign investment. Business leaders accompanying the delegation included executives from shipping company CMA CGM and energy giant TotalEnergies.
As part of expanding cultural ties, Macron said French-language Christian schools closed under the previous government would reopen, along with the French Institute of the Near East, a major research center suspended during the conflict.
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