US imposes sanctions on network involved in oil, LPG trade funding Hezbollah
Date
9/12/2024 4:15:55 AM
(MENAFN) On Wednesday, the US Treasury Department announced that it had imposed new sanctions targeting a network involved in the oil and liquefied petroleum gas (LPG) trade, which provides significant financial support to Hezbollah. The sanctions encompass three individuals, five companies, and two vessels connected to this network. According to the Treasury Department's statement, the network consists of Lebanese businessmen and companies operating under the direction of a senior leader within Hezbollah's finance team.
This network has been instrumental in facilitating a series of LPG shipments to the government of Syria, with the profits being diverted to Hezbollah. The Treasury Department highlighted that these illicit operations not only generate hundreds of millions of dollars for Hezbollah but also play a crucial role in supporting the group's terrorist activities and contributing to regional instability.
Acting Under Secretary of the Treasury for Terrorism and Financial Intelligence, Bradley T. Smith, criticized Hezbollah for its continued focus on violence at the expense of humanitarian concerns. He pointed out that Hezbollah's actions, including rocket attacks on Israel, have intensified regional instability and further aggravated the plight of tens of thousands of displaced individuals in southern Lebanon. Smith emphasized that the Treasury Department remains committed to disrupting oil smuggling operations and other financial networks that bolster Hezbollah’s military activities and destabilize the region.
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