US unveils sanctions targeting Hezbollah funding

The Biden administration announced new sanctions Wednesday against three individuals and four companies with alleged ties to revenue streams for the Lebanese militant group Hezbollah .

A press release, issued by the Department of Treasury, said the individuals and companies were involved in a Lebanon-based sanctions evasion network that “generated millions of dollars in revenue” for Hezbollah, a U.S.-designated terrorist organization. The department’s Office of Foreign Assets Control (OFAC) is also targeting three others for the illegal production and trafficking of Captagon, “a dangerous, highly addictive amphetamine” that benefits the Syrian regime, the release said.

These penalties come as tension in the Middle East has been heightened amid targeted attacks between Iran-backed proxies — such as Hezbollah in Lebanon and Houthis in Yemen — and Israel, which is related to the ongoing war with Hamas in Gaza.

The three individuals and entities listed in the release were on Hezbollah’s finance team, according to the release.

“These individuals are linked to Hizballah’s finance team and have registered companies in their own names in order to conceal Hizballah’s interest in the activities,” the statement reads. “The companies in turn provide Hizballah potentially lucrative business opportunities while also providing them access the formal financial system.”

OFAC had previously imposed sanctions on entities allegedly generating profits for Hezbollah separately in January and September , the release noted.

“Today’s action underscores Hizballah’s destabilizing influence within Lebanon and on the wider region, as the group, its affiliates, and its supporters continue to finance their operations through covert involvement in commercial trade and the illicit trafficking of captagon,” Acting Under Secretary of the Treasury for Terrorism and Financial Intelligence Bradley T. Smith said in the release.

“Treasury will continue to expose and disrupt the illicit schemes that underpin Hizballah’s ability to continue its violent attacks,” Smith added.

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