US slaps sanctions on seven Lebanese companies

The Office of Foreign Assets Control said it took action "to disrupt Hezbollah's financial support networks by designating Muhammad 'Abdallah al-Amin (al-Amin) as a Specially Designated Global Terrorist" as well as seven companies owned or controlled by him.
by Georgi Azar

5 October 2018 | 12:40

Source: by Annahar

  • by Georgi Azar
  • Source: Annahar
  • Last update: 5 October 2018 | 12:40

A file photo of the U.S treasury department (AP)

BEIRUT: The U.S treasury department sanctioned Lebanese national Muhammad Abdallah al-Amin and seven of his companies for providing material support for Hezbollah, the latest in a series of penalties aimed at curtailing the militant group's finances. 

The Office of Foreign Assets Control said it took action "to disrupt Hezbollah's financial support networks by designating Muhammad 'Abdallah al-Amin (al-Amin) as a Specially Designated Global Terrorist" as well as seven companies owned or controlled by him. 

Sierra Gas SAL Offshore, Lama Foods SARL, Lama Foods International Offshore SAL, Impulse SARL, Impulse International SAL Offshore, M. Marine SAL Offshore, and Thaingui SAL Offshore are all now subject to US asset freezes. 

Al-Amin was designated for "for providing material support to Hezbollah insider and financier Adham Husayn Tabaja," the statement read. 

“Hezbollah is an Iranian-proxy, and this Administration is focused on exposing and disrupting its terrorist funding networks. We are exerting extraordinary pressure on Hezbollah financiers like Tabaja to halt their pernicious activities in Lebanon and beyond,” said Sigal Mandelker, Under Secretary of the Treasury for Terrorism and Financial Intelligence.

“Our action should serve as a warning that we will impose consequences on anyone engaging in business relationships with al-Amin or other Hezbollah support networks. Treasury has taken more actions against Hezbollah this year than ever before, and we are fully committed to shutting down this terrorist network.”

This follows the recent amendment of the 'Hezbollah International Financing Prevention Act' by the lower chamber of Congress to broaden the horizon of possible designations. 

Last week, the House of Representatives passed unanimously an amendment permitting the U.S President to report on "individuals who are members of the Lebanese Parliament and who identify as members of Hezbollah." 

The bill, to be voted on next by the Senate, states that the President may designate officials while "blocking property and prohibiting transactions with persons who commit, threaten to commit, or support terrorism."


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