OFAC sanctions six people and seven entities in Hizballah’s financial network
The US Department of the Treasury’s Office of Foreign Assets Control (‘OFAC’) has designated six individuals and seven entities operating in the financial network of Hizballah, the Lebanon-based military and political organisation (2 February). The designations were made under Executive Order 13224, which targets ‘terrorists and those providing support to terrorism or terrorist acts’.
Four Lebanon-based individuals have been designated: Jihad Muhammad Qansu, Ali Muhammad Qansu, Issam Ahmad Saad, and Nabil Mahmoud Assaf, as well as Iraq-based Abdul Latif Saad and Muhammad Badr-Al-Din. All are believed to be acting for or on behalf of Hizballah member and financier Adham Tabaja or his company, Al-Inmaa Engineering and Contracting.
The seven designated entities are in West Africa and the Middle East: Sierra Leone-based Blue Lagoon Group Ltd and Kanso Fishing Agency Ltd; Ghana-based Star Trade Ghana Ltd; Liberia-based Dolphin Trading Company Ltd (DTC), Sky Trade Company and Golden Fish Liberia LTD., and Lebanon-based Golden Fish S.A.L.
‘Hizballah is a terrorist organisation responsible for the death of hundreds of Americans,’ said Treasury Secretary Steven Mnuchin. ‘It is also Iran’s primary proxy used to undermine legitimate Arab governments across the Middle East. The Administration is determined to expose and disrupt Hizballah’s networks, including those across the Middle East and West Africa, used to fund their illicit operations.’
The designated parties are subject to an asset freeze and US citizens are prohibited from engaging with them. They are also subject to secondary sanctions under the Hizballah Financial Sanctions Regulations, which prohibit the use of U.S. accounts by Hizballah, or a person acting for them, as well as by foreign financial institutions which knowingly facilitate a transaction for the organisation.
For OFAC’s designations see:
https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20180202.aspx
