A congressionally mandated State Department report put the net worth of Syrian President Bashar al-Assad and his family at an estimated $1-2 billion but did little to shed light on how the country’s ruling family accumulates its vast fortune, analysts say.

An amendment in the National Defense Authorization Act (NDAA) for fiscal year 2022 required the department publish a report on the Assads' sources of income, including the funds they have generated through corrupt or illicit activities. The unclassified version of the report released on Thursday described the finances of Assad and his wife, Asma al-Assad, who are known “to maintain close patronage relationships with Syria’s largest economic players.” 

“The Assad family runs a complex patronage system including shell companies and corporate facades that serves as a tool for the regime to access financial resources,” the report said. 

Several of the president’s close relatives are mentioned in the report, including his brother Maher Assad, who is the commander of Syria’s Fourth Armored Division, and Assad’s telecom tycoon cousin Rami Makhlouf.