U.S. imposes sanctions on Hezbollah financier

The Hezbollah flag. Credit: Wikimedia Commons.

(JNS.org) The United States has imposed sanctions on Lebanese financier Ali Youssef Charara and his telecommunications company, Spectrum Investment Group Holding SAL, for supporting the Hezbollah terror group. 

According to the U.S. Department of the Treasury, Charara has received millions of dollars to invest in commercial projects in support of Hezbollah. As a result,  all of Charara and Spectrum’s assets based in the U.S. have been frozen.

“Hezbollah relies upon accomplices in the business community to place, manage and launder its terrorist funds,” said Adam Szubin, acting Treasury undersecretary for terrorism and financial intelligence. “We are committed to exposing and disrupting these networks to pressure Hezbollah’s finances and degrade its ability to foment violence in Lebanon, Syria, and across the region.”

The sanctions are the first to be imposed under the new Hezbollah International Financing Prevention Act of 2015, which was signed into law last month. The law aims to sanction international financial institutions that knowingly engage in business with Hezbollah.

Posted on January 7, 2016 .