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The National
04-07-2025
- Business
- The National
US imposes new sanctions against Iran oil trade and Lebanon's Hezbollah
The US has imposed new sanctions against a network that smuggles Iranian oil falsely presented as Iraqi oil and on a Hezbollah-controlled financial institution, the Treasury Department said. A network of companies run by Iraqi-British national Salim Ahmed Said has been buying and shipping billions of dollars worth of Iranian oil disguised as, or blended with, Iraqi oil since at least 2020, the department said. 'Treasury will continue to target Tehran 's revenue sources and intensify economic pressure to disrupt the regime's access to the financial resources that fuel its destabilising activities,' Treasury Secretary Scott Bessent said. The US has imposed layers of sanctions on Iran's oil exports over its nuclear programme and funding of militias across the Middle East. 'As President Trump has made clear, Iran's behaviour has left it decimated. While it has had every opportunity to choose peace, its leaders have chosen extremism,' added Mr Bessent. The Treasury Department also issued sanctions against seven senior officials and one entity linked to Al Qard Al Hassan (AQAH), a Hezbollah-controlled financial institution. The armed Hezbollah group is Iran's proxy in Lebanon. 'These officials, through their management roles, have facilitated Hezbollah's evasion of sanctions, enabling AQAH to conduct millions of dollars in transactions through 'shadow' accounts,' said State Department spokeswoman Tammy Bruce. This comes as the Trump administration intensifies efforts to pressure Tehran into returning to nuclear negotiations and to clamp down on its proxies across the region. The US carried out strikes on June 22 on three Iranian nuclear sites including its most deeply buried enrichment plant, Fordow. The Pentagon said on Wednesday the strikes had degraded Iran's nuclear programme by up to two years, despite a far more cautious initial assessment that had leaked to the public. The US and Iran were expected to hold talks about its nuclear programme next week in Oslo, Axios reported. Said's companies and vessels blend Iranian oil with Iraqi oil, which is then sold to western buyers through Iraq or the Gulf as purely Iraqi oil using forged documentation to avoid sanctions, Treasury said. Said controls Gulf-based company VS Tankers, although he avoids formal association with it, the Treasury said. Formerly known as Al Iraqia Shipping Services & Oil Trading (Aissot), VS Tankers has smuggled oil for the benefit of the Iranian government and the Islamic Revolutionary Guard Corps, which is designated by Washington as a terrorist organisation, it said. The sanctions block US assets of those designated and prevent Americans from doing business with them. Hezbollah trying to rebuild its operations The Lebanese armed group Hezbollah has been severely weakened following a year-long war with Israel that ended in November. The US Treasury said the new sanctions underscore a commitment to disrupting the group's sanctions evasion schemes and supporting efforts by the new Lebanese government to limit Hezbollah's influence. 'Through their roles at AQAH, these officials sought to obfuscate Hezbollah's interest in seemingly legitimate transactions at Lebanese financial institutions, exposing these banks to significant AML/CFT [money laundering and terrorism financing] risk while allowing Hezbollah to funnel money for its own benefit,' said Deputy Secretary Michael Faulkender. 'As Hezbollah seeks money to rebuild its operations, Treasury remains strongly committed to dismantling the group's financial infrastructure and limiting its ability to reconstitute itself,' he added. Hezbollah has long been described as a 'state within a state' in Lebanon, maintaining its own military, security and social infrastructure that operates independently of government control. It also runs a parallel financial system, receiving funding from Iran and various independent sources, while managing its finances outside official state institutions. Ms Bruce said that Washington remains committed to supporting Lebanon by disrupting schemes that empower Hezbollah's destabilising influence. 'We will continue to employ all available tools to ensure that this terrorist group no longer poses a threat to the Lebanese people and the region,' she said.
Nahar Net
03-07-2025
- Business
- Nahar Net
US Treasury sanctions Hezbollah financial officials
by Naharnet Newsdesk 03 July 2025, 18:06 The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced Thursday sanctions on seven senior officials and one entity associated with the Hezbollah-controlled financial institution Al-Qard Al-Hassan. The U.S. Treasury said the seven officials have served in senior management roles for Al-Qard Al-Hassan and have facilitated the evasion of U.S. sanctions, enabling Hezbollah's access to the formal financial system. "Today's action underscores Treasury's commitment to disrupting Hezbollah's sanctions evasion schemes and supporting efforts by the new Lebanese government to limit the terrorist group's influence, particularly as entities like AQAH continue to undermine the already fragile Lebanese economy," the U.S. Department of the Treasury said. "Through their roles at AQAH, these officials sought to obfuscate Hezbollah's interest in seemingly legitimate transactions at Lebanese financial institutions, exposing these banks to significant AML/CFT risk while allowing Hezbollah to funnel money for its own benefit," said Deputy Secretary Michael Faulkender. "As Hezbollah seeks money to rebuild its operations, Treasury remains strongly committed to dismantling the group's financial infrastructure and limiting its ability to reconstitute itself." The U.S. Treasury had previously targeted AQAH shadow bankers in 2021, identifying AQAH's financial director, Ahmad Mohamad Yazbeck, along with officials Abbas Hassan Gharib, Wahid Mahmoud Sbayti, Mostafa Habib Harb, Ezzat Youssef Akar, and Hasan Chehada Othman for acting on behalf of AQAH to evade sanctions. The Treasury also sanctioned AQAH Executive Director Adel Mansour in 2022. Husayn al-Shami, who ran AQAH at the time of its designation in 2007, was designated in 2006 for supporting Hezbollah. "The AQAH officials targeted today serve in critical roles for the organization's activities in support of Hezbollah, and some have been associated with AQAH for over two decades. In addition to their employment with AQAH, several have previously held joint bank accounts at Lebanese financial institutions in coordination with other AQAH affiliates and conducted millions of dollars in transactions that ultimately benefitted, but obscured, Hezbollah's interest," the U.S. Department of the Treasury said in a statement. "Many of the transactions in these accounts reflected the same pattern as the previously OFAC-designated shadow bankers where AQAH officials would conduct mirrored financial activity in AQAH accounts against proxy bank accounts within the formal Lebanese financial system to disguise the movement of money associated with known Hezbollah members," the statement went on to say. Here are the seven officials, as described by the U.S. Treasury: - Nehme Ahmad Jamil (Jamil) is a senior AQAH official and head of the auditing and business departments of AQAH. He also manages financial services for Hezbollah and its affiliated institutions. For almost 20 years, Jamil has provided financial services to AQAH. In addition, Jamil jointly owns a company, Tashilat SARL, with OFAC-designated Yazbeck and al-Shami. Tashilat SARL provided mortgage loans after the 2006 Israel-Lebanon war, and served as an integral part of the operations for AQAH and designated Hezbollah financial institutions Yousser Company and Bayt al-Mal. - Issa Hussein Qassir (Qassir) is a senior AQAH official who oversees the department responsible for supplying equipment to AQAH branches and handling procurement and logistics. In this capacity, Qassir opened bank accounts in the formal financial system to conduct business activities for AQAH. Qassir was documented sending nearly a million dollars to OFAC-designated AQAH shadow bankers Yazbeck, Gharib, and Othman between 2007 and 2019, prior to OFAC's designation of Jammal Trust Bank SAL (JTB) in 2019. JTB was designated for facilitating the banking activities of U.S.-designated entities openly affiliated with Hezbollah, like AQAH and the Martyrs Foundation. - Samer Hassan Fawwaz (Fawwaz) is the head of the AQAH management division and is responsible for administration and liaising between AQAH and various companies that assist the organization with logistics and procurement. He has served in the role of administrative director for AQAH since at least 2010. - Imad Mohamad Bezz (Bezz) is the head of AQAH's evaluation and storage department and is responsible for AQAH's gold deals. Bezz transacted extensively with AQAH officials previously involved in shadow banking activities, including sending over $2.5 million to an account held by three other AQAH officials. - Ali Mohamad Karnib (Karnib) is a senior AQAH employee who serves as the head of AQAH's purchase department. As of July 2024, Karnib oversaw the purchase of over a thousand ounces of gold for AQAH. - Ali Ahmad Krisht (Krisht) serves as the branch manager of AQAH in Tyre, Lebanon. He previously held at least three bank accounts on behalf of Hezbollah and worked in close coordination with OFAC-designated AQAH director Mansour, as well as other AQAH officials. In addition to his ties to AQAH, Krisht was associated with senior Hezbollah financial advisor Hassan Moukalled, who was designated in 2023 for providing support to Hezbollah and helping Hezbollah establish a presence in Lebanon's financial system. - Mohammed Suleiman Badir (Badir) served as a deputy director of AQAH under designated AQAH official Subayti at the Nabatiyeh branch. He previously held a joint account with Subayti opened as part of a Hezbollah plan to circumvent the formal financial system by having members and associates open bank accounts in their personal names. Tashilat SARL was also designated for being owned, controlled, or directed by, or to have acted or purported to act for or on behalf of, directly or indirectly, Jamil, Yazbeck, and al-Shami. As a result of Thursday's sanctions, all property and interests in property of the designated or blocked persons that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. In addition, any entities that are owned, directly or indirectly, individually or in the aggregate, 50 percent or more by one or more blocked persons are also blocked. Unless authorized by a general or specific license issued by OFAC, or exempt, OFAC's regulations generally prohibit all transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of designated or otherwise blocked persons. "Violations of U.S. sanctions may result in the imposition of civil or criminal penalties on U.S. and foreign persons," the Treasury warned. "OFAC may impose civil penalties for sanctions violations on a strict liability basis. OFAC's Economic Sanctions Enforcement Guidelines provide more information regarding OFAC's enforcement of U.S. economic sanctions. In addition, financial institutions and other persons may risk exposure to sanctions for engaging in certain transactions or activities with designated or otherwise blocked persons. The prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any designated or blocked person, or the receipt of any contribution or provision of funds, goods, or services from any such person. "Furthermore, engaging in certain transactions involving the persons designated today may risk the imposition of secondary sanctions on participating foreign financial institutions. OFAC can prohibit or impose strict conditions on opening or maintaining, in the United States, a correspondent account or a payable-through account of a foreign financial institution that knowingly conducts or facilitates any significant transaction on behalf of a person who is designated pursuant to the relevant authority. "The power and integrity of OFAC sanctions derive not only from OFAC's ability to designate and add persons to the Specially Designated Nationals and Blocked Persons List (SDN List), but also from its willingness to remove persons from the SDN List consistent with the law. The ultimate goal of sanctions is not to punish, but to bring about a positive change in behavior," the statement said.
Shafaq News
03-07-2025
- Business
- Shafaq News
US sanctions 'Hezbollah financiers and Iranian oil smugglers'
Shafaq News – Washington The US Department of the Treasury on Thursday announced sweeping sanctions targeting what it called Hezbollah-linked financial operatives in Lebanon and Iranian oil smuggling networks spanning Iraq, the Gulf, and Asia. In a pair of statements, the Treasury's Office of Foreign Assets Control (OFAC) sanctioned seven senior officials and one entity affiliated with Lebanon's Al-Qard Al-Hassan (AQAH), a Hezbollah -controlled financial institution designated by the US since 2007. 'These officials sought to disguise Hizballah's (Hezbollah) interest in seemingly legitimate transactions, exposing Lebanese banks to serious financial crime risks,' said Deputy Treasury Secretary Michael Faulkender. He added that the US remains committed to dismantling Hizballah's financial infrastructure as the group attempts to rebuild its operations. Among those sanctioned are AQAH executives Nehme Ahmad Jamil, Issa Hussein Kassir, Samer Hasan Fawaz, and others accused of facilitating multi-million dollar transactions that covertly served Hizballah's interests. OFAC also designated the Beirut-based company Tashilat SARL, co-owned by AQAH officials, for its role in supporting Hezbollah's financial ecosystem through post-conflict mortgage services and other business fronts. In addition, OFAC also unveiled sanctions against a sprawling oil smuggling network led by Iraqi-British businessman Salim Ahmed Said, accused of blending and selling Iranian oil as Iraqi crude using forged documentation and corrupt deals with Iraqi officials. According to the Treasury, Said's operations have generated billions of dollars in revenue for Iran's Islamic Revolutionary Guard Corps-Quds Force (IRGC-QF), a US-designated terrorist organization. Said's companies—operating out of Iraq and the United Arab Emirates—allegedly manipulated shipping records, conducted ship-to-ship transfers in the Persian Gulf, and stored oil in disguised terminals in Khor al-Zubayr. One firm, VS Tankers FZE, reportedly used a fleet of vessels to blend sanctioned Iranian oil with legitimate Iraqi crude, allowing it to reach global markets. The Treasury also sanctioned several ships and shipping companies believed to be part of Iran's 'shadow fleet,' used to covertly transport oil in defiance of international sanctions.
