US sanctions network of Hezbollah businessman in Lebanon
The Treasury Department designated Ahmad Jalal Reda Abdallah and several of his associates and companies based in Lebanon and Iraq.
The Biden administration on Thursday imposed sanctions on an alleged financial facilitator for Hezbollah, a move aimed at exposing and disrupting the Lebanese militant group’s illicit sources of funding.
The Treasury Department’s Office of Foreign Assets Control said in a statement that it designated Lebanese businessman Ahmad Jalal Reda Abdallah, along with five of his associates and eight of his companies in Lebanon and Iraq.
“Hezbollah has built a web of businesses to hide its activities and generate funds for its destabilizing activities, all at the expense of accountability and public safety in Lebanon and the region,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian Nelson.
“The designation of this network demonstrates the US government’s commitment to protect Lebanon’s private sector and financial system from Hezbollah's abuse,” he said.
