US Treasury Targets Hizballah Finance Team Sanctions Evasion Network

(MENAFN- Kuwait News Agency (KUNA)) WASHINGTON, March 28 (KUNA) -- The US Department of the Treasury's Office of Foreign Assets Control (OFAC) is designating five individuals and three associated companies involved in a Lebanon-based sanctions evasion network supporting the Hizballah finance team.
The Hizballah finance team manages a variety of lucrative commercial projects and oil smuggling networks, often in conjunction with Iran's Islamic Revolutionary Guard Corps - Qods Force (IRGC-QF), to generate and transfer revenue for Hizballah, the Department of Treasury said in a statement on Friday.
The Hizballah finance team uses front companies to generate millions of dollars in revenue for Hizballah and support the group's terrorist activities, while also allowing key associates and family members, like those designated today, to enrich themselves through these commercial enterprises.
"Today's action underscores Treasury's determination to expose and disrupt the schemes that fund Hizballah's terrorist violence against the Lebanese people and their neighbors," said Acting Under Secretary of the Treasury for Terrorism and Financial Intelligence Bradley T. Smith.
"These evasion networks strengthen Iran and its proxy Hizballah and undermine the courageous efforts of the Lebanese people to build a Lebanon for all its citizens."
Today's action is being taken pursuant to counterterrorism authority Executive Order (E.O.) 13224, as amended. The U.S. Department of State designated Hizballah as a Foreign Terrorist Organization on October 8, 1997, and as a Specially Designated Global Terrorist on October 31, 2001.
This action supports the United States Government policy of maximum pressure on Iran and its terrorist proxies such as Hizballah, as detailed in National Security Presidential Memorandum 2 of February 4, 2025.
Meanwhile, US State Department spokesperson Tammy Bruce said "the United States is committed to supporting Lebanon by exposing and disrupting funding schemes for Hizballah's terrorist activities and Iran's destabilizing influence in the region".
"Hizballah cannot be allowed to keep Lebanon captive. The United States will continue using tools at its disposal until this terrorist group no longer threatens the Lebanese people.
"Additionally, the Rewards for Justice (RFJ) program, which is administered by the State Department's Diplomatic Security Service, is offering a reward of up to USD 10 million for information leading to the disruption of the financial mechanisms of Hizballah," she added. (end)
rsr

MENAFN28032025000071011013ID1109369204