US Treasury sanctions Hezbollah financial network in Lebanon
A US Treasury official says the department is targeting Hezbollah's "misuse of the international financial system" to raise funds for terrorism.
The US Treasury Department sanctioned three Lebanese people and 10 companies on Friday accused of being part of a Hezbollah-affiliated financial network that helped the Iran-backed militant group obtain funds.
The Treasury’s Office of Foreign Assets Control (OFAC) designated Adnan Ayad, a Hezbollah member and businessman who the department said operated an international network of companies.
OFAC also blacklisted alleged members of an international network of facilitators and companies connected to Ayad and Adel Diab, his business partner who was sanctioned on Tuesday.
The sanctions on Friday were issued under Executive Order 13224, which allows the Treasury to block the assets of those who commit or pose a significant risk of committing acts of terrorism. The United States designated Hezbollah a foreign terrorist organization in 1997.
