The U.S. Department of the Treasury sanctioned what it described as “two key mechanisms” Hezbollah uses to finance its operations, including revenue generation tied to Iran and exploitation of Lebanon’s informal financial sector, the department announced on Tuesday.
“Hezbollah is a threat to peace and stability in the Middle East,” Scott Bessent, the U.S. treasury secretary, stated. “Treasury will work to cut these terrorists off from the global financial system to give Lebanon a chance to be peaceful and prosperous again.”
The Treasury designated Jood SARL, a gold exchange company it said works with Al-Qard Al-Hassan, a Hezbollah-aligned and U.S.-sanctioned non-profit, that operates under the guise of a licensed non-governmental organization while providing bank-like financial services to Hezbollah.
According to the department, senior AQAH officials worked with Jood SARL to establish a chain of companies to trade gold in Lebanon and potentially overseas and convert Hezbollah’s gold reserves into usable currency.
The Treasury also designated an international procurement and commodities shipping network led by Ali Qasir, a U.S.-sanctioned Hezbollah financier based in Iran. Qasir coordinates with associates across multiple jurisdictions to evade sanctions, raise funds and procure weapons for Hezbollah, using a network of companies, individuals and vessels to facilitate illicit exports, the department stated.
Tommy Pigott, U.S. State Department principal deputy spokesperson, stated that Tuesday’s announcement supports U.S. President Donald Trump’s “whole of government policy of maximum pressure against Iran’s regime and its terrorist proxies like Hezbollah.”
“The United States will continue using every tool at its disposal to ensure that Hezbollah can no longer obstruct Lebanon’s regeneration or pose a threat to the United States and its interests,” Pigott stated.
