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UAE Moments
2 days ago
- Business
- UAE Moments
Kuwait Bans Dealings with Hezbollah Financial Entity Al Qard Al Hassan
In a decisive alignment with international terrorism countermeasures, Kuwait has officially added Hezbollah and its affiliated financial institution, the Al Qard Al‑Hassan Association (AQAH), to its sanctions list, according to the Saudi media outlet al-Sharq al-Awsat. The Kuwaiti Foreign Ministry's sanctions committee, acting under UN Security Council resolutions enacted under Chapter VII of the UN Charter, also imposed sanctions on three individuals of Lebanese, Tunisian, and Somali nationality. The Lebanese man, Adel Mansour, is AQAH's designated leader, whose assets have been frozen. All Kuwaiti companies and financial institutions must immediately cease cooperation with Hezbollah-affiliated individuals and entities, and freeze any related funds or economic resources. At least seven Lebanese individuals are currently sanctioned because of their alleged involvement in the financial networks between Lebanon and Kuwait, which serve Hezbollah. \ In July 2025, Lebanon's central bank issued a circular forbidding all licensed banks and brokerages from dealing directly or indirectly with AQAH or other unlicensed financial entities, signaling a move toward curbing Hezbollah's economic footprint. In November last year, Kuwait arrested 18 individuals because of suspected economic links with Hezbollah.
L'Orient-Le Jour
2 days ago
- Business
- L'Orient-Le Jour
Kuwait imposes new sanctions against Hezbollah and al-Qard al-Hassan
BEIRUT — The Kuwaiti Foreign Affairs Ministry announced Monday sanctions imposed against the al-Qard al-Hassan Association (AQAH), considered the financial wing of Hezbollah in Lebanon, according to the Saudi media outlet al-Sharq al-Awsat. The Committee for 'the implementation of U.N. Security Council resolutions' under the Kuwaiti ministry decided Monday to add Hezbollah, the AQAH association, as well as three individuals, including a Lebanese man, Adel Mansour, the designated leader of AQAH whose assets have been frozen, to its list of sanctioned entities. The two other sanctioned individuals are of Somali and Tunisian nationality. The Kuwaiti government has therefore called on all companies and financial institutions resident in the Gulf country to implement these measures and to cease all cooperation with any institution or person linked to Hezbollah. Sanctions initiated in 2021 At least seven individuals of Lebanese nationality are now under sanctions for their alleged involvement in a network of financial channels between Lebanon and Kuwait serving Hezbollah. The first of these were named by the U.S. Treasury (OFAC) for such activities in September 2021. Under U.S. Treasury sanctions since 2007, the AQAH association was targeted on July 14 by a circular from the Central Bank of Lebanon, formalizing the prohibition for all Lebanese banks and financial institutions from interacting with several entities linked to the pro-Iranian group. In November 2024, Kuwait arrested 18 people on its territory on suspicion of economic links Hezbollah. Earlier that year, in September, the United States announced the implementation of other sanctions against a network accused of "oil counterfeiting" between Kuwait and Lebanon for the benefit of Haret Hreik. This decision by Kuwaiti diplomacy is part of a long series of initiatives over the past months against Hezbollah's economic systems in Lebanon and internationally, in an effort to undermine any reconstruction of its financial resources.
