OFAC targeted several entities and individuals for providing financial services to designated groups Hizballah and HAMAS.
In one action, OFAC sanctioned Jamal Trust Bank S.A.L., a Lebanese financial institution, listing it as a Specially Designated Global Terrorist for knowingly facilitating banking activities for Hizballah. OFAC also designated Jamal Trust's Lebanese subsidiaries: Trust Insurance S.A.L., Trust Insurance Services S.A.L., and Trust Life Insurance Company S.A.L.
In another action, OFAC, in partnership with the Sultanate of Oman, designated several Lebanon-and Gaza-based individuals for moving "tens of millions of dollars" between Iran's Islamic Revolutionary Guard Corps-Qods Force and HAMAS's operation arm in Gaza.
As a result of OFAC's action, all property and interests in property of the designated individuals and entities in the United States, or in the possession or control of U.S. persons, must be blocked and reported to OFAC. OFAC regulations generally forbid all dealings by U.S. persons, and all transactions that occur within or transiting the United States, that involve the property or interests in property of blocked individuals or entities. These blocking requirements and prohibitions also apply to any entities owned 50 percent or more by any designated individuals or entities. In its release, OFAC reminded non-U.S. financial institutions and other persons that engaging in certain transactions with the individuals and entities targeted by this action may result in an enforcement action and/or the imposition of sanctions.
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