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US designates Lebanese businessmen in Hezbollah-related sanctions
Lebanon News
11-09-2024 | 10:50
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US designates Lebanese businessmen in Hezbollah-related sanctions
On Wednesday, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on three individuals, five companies, and two vessels involved in smuggling oil and liquified petroleum gas (LPG) to generate revenue for Hezbollah.
The network, which is comprised of Lebanese businessmen and companies and overseen by a key leader of Hezbollah’s finance team, has enabled dozens of LPG shipments to the Government of Syria and channeled the profits to the group, said a Treasury Department press release.
"Illicit oil and LPG smuggling operations generate hundreds of millions of dollars for Hezbollah and support the group’s activities," it added.
Hezbollah official Muhammad Ibrahim Habib al-Sayyid, Lebanese businessman Ali Nayef Zgheib, and Lebanese businessman Boutros Georges Obeid are being designated pursuant to EO 13224 "for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Hezbollah ."
Additionally, the US imposed sanctions on Zgheib and Obeid business networks, including Heavy Oil Distribution Company SAL (HODICO), Heavy Industrial Fuels SAL HIF (HIF SAL), Heavy Oil Distribution Company SAL Offshore (HODICO Offshore), and OHG Holding SAL.
Furthermore, the European Lebanese International Trade SARL (ELIT) is designated among the list. Meanwhile, LPG tankers ALPHA GAS and MARINA "are being identified as property in which Hezbollah has an interest."
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