Authored by Naveen Athrappully via The Epoch Times (emphasis ours),
Individuals and entities aiding the financing of the Hezbollah terrorist group have been sanctioned by the Department of the Treasury on March 28.
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 agency announced in a March 28 statement.
Hezbollah, also known as Hizballah, is an Iran-backed terrorist group based in Lebanon. Following the Hamas terrorist attack against Israel in October 2023, Hezbollah began firing thousands of rockets and mortars into Israel.
According to the Treasury Department, “the Hizballah finance team uses front companies to generate millions of dollars in revenue for Hizballah and support the group’s terrorist activities.”
The team manages several commercial projects and oil smuggling networks to generate revenue, which is eventually transferred to Hezbollah, according to the Treasury. This is typically done in conjunction with Iran’s Islamic Revolutionary Guard Corps-Quds Force (IRGC-QF).
The individuals and companies that OFAC has sanctioned facilitate and conceal oil sales for IRGC-QF and offer the terrorist group access to formal financial systems.
For instance, one of the sanctioned companies is Ravee SARL, a Lebanese business “that aims to generate profits for Hizballah from trade deals related to veterinary products,” the Treasury said.
One sanctioned individual, Mahasin Mahmud Murtada, is a “registered owner of several companies associated with Hizballah’s commercial investments,” it said.
With the new sanctions, all property of the designated individuals and companies that is located in the United States is “blocked and must be reported to OFAC,” the agency said. U.S. citizens are prohibited from engaging in any transactions involving the sanctioned individuals.
“Violations of U.S. sanctions may result in the imposition of civil or criminal penalties on U.S. and foreign persons. OFAC may impose civil penalties for sanctions violations,” the agency stated.
Acting Undersecretary of the Treasury for Terrorism and Financial Intelligence Bradley T. Smith said OFAC’s latest actions aim to “expose and disrupt the schemes that fund Hizballah’s terrorist violence against the Lebanese people and their neighbors.”
“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,” he said.
Disrupting Terrorist Financing
The U.S. government previously imposed sanctions against entities for assisting Hezbollah.
In 2021, the Treasury announced sanctions on multiple Chinese nationals and entities for financing the terrorist group.
Many of the companies were based in Hong Kong and were directly or indirectly owned or controlled by Morteza Minaye Hashemi, an Iranian businessman living in China who was on the United States’ sanctions list and was accused of funding IRGC-QF.
Hashemi laundered tens of millions of dollars through foreign exchange and gold sales, transferring the money to IRGC-QF and Hezbollah, the department said at the time.
Last year, a Lebanese national pleaded guilty to circumventing U.S. sanctions to finance Hezbollah.
The individual was accused of coercing an individual to liquidate real estate assets in Michigan and transfer hundreds of thousands of dollars to Lebanon without the necessary licenses.
Israel is also targeting Hezbollah’s financial channels to counter the terrorist group amid its conflict with Hamas.
In October 2024, the Israel Defense Forces (IDF) hit branches of the U.S.-sanctioned Al-Qard Al-Hasan Association in Beirut via multiple strikes.
That entity helped Hezbollah store billions of dollars in funds for its terror operations, according to the IDF. Hezbollah reportedly used the organization to buy armaments and weapon storage facilities, pay salaries of its members, and conduct terror activities.
Meanwhile, the conflict between Israel and Hezbollah intensified recently when the Jewish state’s military conducted an air strike in Beirut on March 28. This was the first attack on Lebanon’s capital city after Israel and the terrorist group agreed to a cease-fire in November.
The strike targeted a Hezbollah drone storage site, the military said, adding that the operation was carried out after rockets were fired at Israel from Lebanon earlier in the morning “in blatant violation of the understandings between Israel and Lebanon.”
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