Saturday, 27 November 2021 02:31 GMT

US imposes Sanctions on Hezbollah financial network

(MENAFN In an effort to curb Iran's influence in the Middle East, the United States sanctioned on Friday six members of Lebanese "Hezbollah's" financial network.

US has also imposed sanctions on seven entities linked to Hezbollah.

The six sanctioned individuals included five Lebanese and one Iraqi, most of them linked to Al-Inmaa Engineering and Contracting, the Treasury Department said.

The company is based in "Hezbollah's" stronghold south of Beirut. The construction company is mostly active in predominantly Shi'ite areas in Lebanon such as Beirut's southern suburbs and the southern town of Nabatiyeh.

"The administration is determined to expose and disrupt "Hezbollah's" networks, including those across the Middle East and West Africa, used to fund their illicit operations," Treasury Secretary Steven Mnuchin said in announcing the penalties under financial regulations.

Trump's officials said "Hezbollah" was already under financial strain as it continued to pay for expensive operations in Syria and Yemen. The goal was to get European allies to join the United States in increasing pressure on the group, they said.

As a result of the Treasury designations, all their assets subject to US jurisdiction are blocked and Americans are prohibited from engaging in transactions with them.


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