Cement Giant Lafarge Convicted for Financing Terrorism

A Paris court has found Lafarge, a division of Holcim, guilty of financing terrorism and violating EU sanctions in Syria. The court found that Lafarge paid over 5.5 million euros to terrorist groups, including ISIS and Nusra Front, to maintain operations during Syria's civil war.

In a landmark ruling, a Paris court on Monday found the Lafarge unit of cement giant Holcim guilty of financing terrorism and breaching European sanctions. The charges stem from payments made by its Syrian subsidiary to keep a plant operational amidst Syria's civil conflict.

The court's decision noted that eight former Lafarge executives, including high-ranking officers, were guilty of channeling funds to terrorist groups. From 2013 to September 2014, Lafarge paid a total of 5.593 million euros to organizations such as the Islamic State and the al Qaeda-affiliated Nusra Front, both recognized as terrorist entities by the European Union.

The ruling emphasizes the legal and moral responsibilities of corporations operating in conflict zones, highlighting significant implications for international business conduct.

(With inputs from agencies.)