President Issias Afwerki has transferred huge amount of Eritrea’s money to a bank account in China that is jointly owned by him and his eldest son, a bank document that reached our website disclosed. The document which was issued by the Chinese bank shows that the President and his son as beneficiaries of the sum of $276, 468, 222.07 in a single transaction from Hagos Gebrehiwet (Kisha), the PFDJ economy czar, as a remitter. Based on the bank transaction document, our sources in Asmara informed us that the sum was transferred from the Chinese Industry and Trade Ministry to President Issias’ personal document at the Fabon Bank of Hong Kong with a transaction fee of $149.292.84. 

President Issias Afwerki has transferred huge amount of Eritrea’s money to a bank account in China that is jointly owned by him and his eldest son, a bank document that reached our website disclosed. The document which was issued by the Chinese bank shows that the President and his son as beneficiaries of the sum of $276, 468, 222.07 in a single transaction from Hagos Gebrehiwet (Kisha), the PFDJ economy czar, as a remitter. Based on the bank transaction document, our sources in Asmara informed us that the sum was transferred from the Chinese Industry and Trade Ministry to President Issias’ personal document at the Fabon Bank of Hong Kong with a transaction fee of $149.292.84. 

PIA

President Issias is believed to be behind the decision of China's largest independent carmaker’s, Geely Automobile Holdings Limited, suspension of trading of its shares last Friday after it was rumored that it was one of three companies interested in buying Volvo, sources from Asmara revealed. The information, further, disclosed that President Issias is a big shareholder of the automaker with more than a billion dollar investment in it.

PIA

President Issias is believed to be behind the decision of China's largest independent carmaker’s, Geely Automobile Holdings Limited, suspension of trading of its shares last Friday after it was rumored that it was one of three companies interested in buying Volvo, sources from Asmara revealed. The information, further, disclosed that President Issias is a big shareholder of the automaker with more than a billion dollar investment in it.

President Issias Afwerqi has ordered his economy czar to pull all the money of Eritrean citizens and associations that is deposited under its account both in Europe and US and transfer it to Banka Nationale del Lavoro, an Italian bank, Eritrean nationals close to the regime disclosed. Sources in Asmara has also confirmed this indicating that the President has given this executive order in October last year but failed to implement it due to the resistance from his ambassadors. According to the same source, several ambassadors resisted the measure and advised the President to hold on the action for fear that it could raise a legal battle between their respective offices and Eritreans who would be losing their money under this scheme.

President Issias Afwerqi has ordered his economy czar to pull all the money of Eritrean citizens and associations that is deposited under its account both in Europe and US and transfer it to Banka Nationale del Lavoro, an Italian bank, Eritrean nationals close to the regime disclosed. Sources in Asmara has also confirmed this indicating that the President has given this executive order in October last year but failed to implement it due to the resistance from his ambassadors. According to the same source, several ambassadors resisted the measure and advised the President to hold on the action for fear that it could raise a legal battle between their respective offices and Eritreans who would be losing their money under this scheme.

HadasPresident Issias impliedly admitted that he could be target of the international tribunals hunt for war criminals and said he would stand by Sudan’s President Omar Al Bashir’s side. “Since this movement [warrant] of the International Criminal Court is not going to be limited to President Al-Bashir alone but is designed to target all nations of the region, we oppose to it by standing on the Sudanese side,” Haddas Eritrea, the government’s daily paper, quoted Issias.

HadasPresident Issias impliedly admitted that he could be target of the international tribunals hunt for war criminals and said he would stand by Sudan’s President Omar Al Bashir’s side. “Since this movement [warrant] of the International Criminal Court is not going to be limited to President Al-Bashir alone but is designed to target all nations of the region, we oppose to it by standing on the Sudanese side,” Haddas Eritrea, the government’s daily paper, quoted Issias.