The U.S. Treasury blacklisted a number of people and entities for allegedly aiding Hezbollah‘s monetary actions.
The Workplace of Overseas Belongings Management (OFAC) named Lebanese cash exchanger Hassan Moukalled as a key participant within the community.
He’s accused of “enabling Hezbollah to proceed to use and exacerbate Lebanon’s financial disaster” by way of his firm, CTEX Trade.
OFAC additionally designated Moukalled’s sons, Rayyan and Rani, for his or her alleged function in supporting their father’s actions.
“Right now, the Treasury Division is taking motion in opposition to a corrupt cash exchanger, whose monetary engineering actively helps and permits Hezbollah and its pursuits on the expense of the Lebanese folks and financial system,” stated Beneath Secretary of the Treasury for Terrorism and Monetary Intelligence, Brian E. Nelson.
The Treasury claims Moukalled, a Lebanon-based economist, has labored intently with Hezbollah monetary officers to ascertain the group’s presence in Lebanon’s monetary system.
He allegedly acts as a monetary advisor to Hezbollah, carries out enterprise offers on the group’s behalf, and represents Hezbollah in negotiations with potential buyers, companions, and even international authorities officers.
The Treasury additionally accused CTEX of acquiring vital market share inside Lebanon’s foreign money switch sector and amassing hundreds of thousands of {dollars} for the Central Financial institution of Lebanon, whereas additionally offering {dollars} to Hezbollah establishments and recruiting cash changers loyal to Hezbollah.
“Hassan Moukalled has coordinated a variety of points with Muhammad Qasir, together with enterprise offers involving Russia, in addition to efforts to help Hezbollah in acquiring weaponry for Hezbollah’s use,” the Treasury charged, noting that Moukalled had publicly acknowledged his function in 2016 as an middleman for negotiations between the Central Financial institution and Hezbollah.
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