US Treasury designates five individuals and two Lebanon-based companies for aiding Hezbollah money exchanger

The US Department of the Treasury's Office of Foreign Assets Control (OFAC) has designated five individuals for helping Hezbollah money exchanger Hassan Moukalled and his company, CTEX Exchange, evade sanctions and facilitate illicit activities in support of Hezbollah. 

The sanctioned individuals include two co-founders of CTEX Exchange, Andriyah Samir Mushantaf and Bashir Ibrahim Mansur, as well as two of Moukalled's sons, Rayyan and Firas Moukalled, and CTEX employee Adnan Mahmoud Youssef. 

Additionally, Mazen Hassan al-Zein, a UAE-based business consultant for Moukalled, was also designated.

OFAC's action blocks all property and interests in property of the designated individuals in the United States or under US control.

US persons are prohibited from engaging in transactions with these individuals or with any entities they own, directly or indirectly, 50% or more. 

This move is part of the US strategy to target terrorist groups, their supporters, and those who aid acts of terrorism.

The sanctions aim to constrain Hezbollah's revenue sources and their ability to further destabilize the region. 

Brian E. Nelson, Under Secretary of the Treasury for Terrorism and Financial Intelligence, stated, "Hezbollah continues to rely on seemingly legitimate business investments and key facilitators to generate revenue for the group’s operations, including its destabilizing attacks across Israel’s northern border." 

These designations expand on previous measures against Moukalled, his companies, and his family members. 

The UAE also added the same three individuals and CTEX Exchange to its Local Terrorist List in February 2023.

 

Additionally, Lebanon and UAE-based hospitality company, The Crystal Group was designated for being owned, controlled, or directed by, directly or indirectly, al-Zein, "a person whose property and interests in property are blocked pursuant to E.O. 13224, as amended."

Moreover, Lebanon-based Teleport Company SAL (Teleport) was selected pursuant to E.O. 13224, as amended, "for being owned, controlled, or directed by, directly or indirectly, Mushantaf, Firas, and Rayyan, persons whose property and interests in property are blocked pursuant to E.O. 13224, as amended," said a Treasury Department press release.

The designations are part of a broader effort to counter the influence and financing of Hezbollah, and it builds upon previous actions against Moukalled, his companies, and his family members.