The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has announced sanctions against seven senior officials and one entity linked to the Hizballah-controlled financial institution Al-Qard Al-Hassan (AQAH). The action is aimed at disrupting Hizballah’s financial networks, which have been evading U.S. sanctions to access the formal financial system.
"Through their roles at AQAH, these officials sought to obfuscate Hizballah’s interest in seemingly legitimate transactions at Lebanese financial institutions," stated Deputy Secretary Michael Faulkender. He emphasized that this exposes banks to significant anti-money laundering and counter-financing terrorism risks while allowing Hizballah to benefit financially.
The targeted individuals include Ahmad Mohamad Yazbeck, Abbas Hassan Gharib, Wahid Mahmud Subayti, Mostafa Habib Harb, Ezzat Youssef Akar, Hasan Chehada Othman, Adel Mansour, and Husayn al-Shami. These officials have facilitated AQAH’s operations despite previous sanctions aimed at limiting their activities.
Today's measures are enacted under Executive Order 13224 and continue efforts by OFAC to dismantle Hizballah's illicit finance networks involved in various commercial enterprises. "As Hizballah seeks money to rebuild its operations," Faulkender noted, "Treasury remains strongly committed to dismantling the group’s financial infrastructure."
Officials Nehme Ahmad Jamil, Issa Hussein Kassir, Samer Hasan Fawaz, Imad Mohamad Bezz, Ali Mohamad Karnib, Ali Ahmad Krisht, and Mohammed Suleiman Badir were designated for their roles within AQAH. Additionally, Tashilat SARL was sanctioned for its connections with Jamil and other designated individuals.
All property and interests in property of these designated persons within the United States are blocked under OFAC regulations unless authorized by a specific license. Violations may lead to civil or criminal penalties for both U.S. and foreign entities involved in unauthorized transactions with these individuals or entities.
OFAC's sanctions aim not only to penalize but also encourage behavioral change by those listed on the Specially Designated Nationals and Blocked Persons List (SDN List). For more information on seeking removal from an OFAC list or details about today's designations can be found through OFAC guidance resources.
