The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced new sanctions targeting individuals and entities accused of supporting Hizballah’s financial operations and exploiting Lebanon’s informal cash economy. The action aims to disrupt two main revenue streams used by Hizballah: coordination with Iran for economic support and leveraging non-official financial networks in Lebanon.
The measures include sanctions against Jood SARL, a gold exchange company operating under the supervision of Al-Qard Al-Hassan (AQAH), which is already designated by the U.S. AQAH is described as presenting itself as a non-governmental organization but providing banking services beyond its registered activities. According to OFAC, Jood SARL converts Hizballah’s gold reserves into funds that help sustain the group’s activities.
In addition, OFAC sanctioned an international procurement and shipping network managed by Hizballah financiers in several countries, including Iran. These actions are authorized under Executive Order 13224, which targets terrorists and those providing support to terrorism.
“Hizballah is a threat to peace and stability in the Middle East,” said Secretary of the Treasury Scott Bessent. “Treasury will work to cut these terrorists off from the global financial system to give Lebanon a chance to be peaceful and prosperous again.”
Officials say that AQAH has established multiple companies to trade gold both within Lebanon and abroad, aiming to address liquidity issues faced in early 2025. Jood SARL, licensed by Lebanese authorities and overseen by Samer Hasan Fawaz, operates branches primarily in Shiite areas such as Beirut, Bek’a valley, and Nabatiyeh. Senior AQAH officials Mohamed Nayef Maged and Ali Karnib manage Jood on behalf of AQAH.
Jood SARL is being sanctioned for providing material or financial support to Hizballah. Mohamed Nayef Maged is also designated for similar support provided to AQAH.
OFAC also targeted associates linked to Ali Qasir, an Iran-based member of Hizballah’s finance team who coordinates with partners across different countries to evade sanctions. Among those named is Andrey Viktorovich Borisov, a Russian national involved in weapons procurement from Russia and commodity sales benefiting Hizballah. Since at least 2021, Borisov has worked with other sanctioned associates on deals involving Russia through companies like Mira Ihracat Ithalat Petrol.
In late 2025, members of this network facilitated exports of Iranian fertilizer through Turkey using companies such as Platinum Group International Dis Ticaret Limited Sirketi and Sea Surf Shipping Limited. The transactions involved falsely claiming Oman as the cargo origin and using vessels flagged in Saint Kitts and Nevis as well as Panama.
Entities designated include Borisov; Platinum Group International Dis Ticaret Limited Sirketi; Sea Surf Shipping Limited; Brilliance Maritime Ventures S.A.; as well as two vessels identified as blocked property: BRILLIANCE (Panama-flagged) and LARA (Saint Kitts and Nevis-flagged).
Following these designations, all property belonging to these individuals or entities within U.S. jurisdiction must be blocked and reported to OFAC. U.S. persons are generally prohibited from engaging in transactions involving blocked parties unless authorized by OFAC.
Violations may result in civil or criminal penalties for both U.S. and foreign persons. Financial institutions that knowingly conduct significant transactions with designated persons may face secondary sanctions affecting their access to U.S.-based accounts.
OFAC states that its ultimate goal with sanctions is not punitive but intended “to bring about a positive change in behavior.” Individuals or entities seeking removal from sanction lists can follow procedures outlined on OFAC’s website.
More information about today’s designations can be found at the Treasury Department's official page.
