The U.S. Treasury Department Office of Foreign Assets Control ("OFAC") designated four individuals for their alleged roles in permitting Hizballah's activities to undercut security and stability in Iraq. These individuals were designated pursuant to Executive Order ("EO") 13224.
According to OFAC, the four Hizballah-associated individuals are "terror facilitators . . . who smuggle oil for Iran, raise funds for Hizballah, and send fighters to Syria for the [Islamic Revolutionary Guard Corps]-Qods Force on behalf of [Iranian Major General] Qasem Soleimani." In addition, OFAC stated, the Trump administration will continue to impose significant consequences on those aiding Hizballah and their global support networks, as well as those that partake in business with these "terrorists."
All property and interests in the property of individuals designated today as subject to U.S. jurisdiction are now blocked, and U.S. persons are generally prohibited from engaging in transactions with those individuals. In addition, OFAC may impose secondary sanctions on foreign financial institutions that knowingly facilitate significant transactions with these individuals. In particular, under the Hizballah Financial Sanctions Regulations, which implement the Hizballah International Financing Prevention Act of 2015, OFAC can prohibit or impose strict conditions on the opening or maintaining in the United States of correspondent or payable-through accounts by such foreign financial institutions.
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