Washington, Mar 21 (PTI): The United States has imposed sanctions on a global financial network linked to Hezbollah, which is designated by Washington as a foreign terrorist organisation.

“Today, the United States is imposing sanctions to disrupt a global financial network that supports Hizballah (Hezbollah). This action targets individuals and entities involved in laundering and raising funds for Hizballah’s finance team through a range of companies and projects operating across the Middle East, Europe, and North America,” Tommy Pigott, Principal Deputy Spokesperson for the US Department of State, said in a statement.

He said by cutting off these financial channels, the United States is taking concrete steps to limit Hezbollah’s ability to generate revenue for terrorism and evade sanctions.

“Hizballah's reckless attack on Israel demonstrates yet again that it prioritises the pursuit of terrorism on behalf of the Iranian regime over the peace and safety of the Lebanese people,” Pigott said.

Hezbollah continues to spend millions of dollars on terrorism, leaving Lebanese civilians to deal with the consequences and depriving them of a normal life, he said.

By targeting Hezbollah’s financial enablers, the Trump Administration is taking decisive action to disrupt the group’s ability to threaten the security of the United States and the Middle East, Pigott said.

A separate statement by the Department of Treasury said its Office of Foreign Assets Control (OFAC) is designating a network of 16 individuals and entities led by Hezbollah financier and former public investment official Alaa Hassan Hamieh.

Alaa Hamieh oversees a network of companies, controlled through family members and close associates, that launder and raise funds for Hezbollah’s finance team, the Treasury statement said.

“These individuals and companies -- located in Lebanon, Syria, Poland, Slovenia, Qatar, and Canada -- have been involved in numerous economic projects and are estimated to have enabled the diversion of over USD 100 million since 2020,” the statement said.

It said this network represents a critical source of funding for Hezbollah, which continues to embrace violence despite calls to disarm.

“Iran is the head of the snake when it comes to global terrorism, and its proxies, such as Hizballah, carry out Tehran’s mission to sow chaos and destruction beyond its borders,” said Secretary of the Treasury Scott Bessent.

“Hizballah continues to divert funds that rightfully belong to the Lebanese people to finance its terrorist operations. This action targets key actors within its global financial network that sustain its militant activities,” Bessent said.

As a result of the action, all property and interests in property of the designated or blocked persons described above that are in the United States or in the possession or control of US persons are blocked and must be reported to OFAC.

In addition, any entities that are owned, directly or indirectly, individually or in the aggregate, 50 per cent or more by one or more blocked persons are also blocked.

Unless authorised by a general or specific license issued by OFAC, or exempt, OFAC’s regulations generally prohibit all transactions by US persons or within (or transiting) the United States that involve any property or interests in property of blocked persons, the Treasury statement said. PTI SKU RHL

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