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US: Hezbollah in “Worst Financial Shape in Decades”

Hezbollah flag (Photo: flickr/peaceworker46)

It would seem that sanctions by the United States and other nations have had a negative effect on the terrorist organization Hezbollah. The Times of Israel reports that the U.S. has stated the Lebanese terror group is in a dire financial situation:

“After many years of sanctions targeting Hezbollah, today the group is in its worst financial shape in decades. And I can assure you that, alongside our international partners, we are working hard to put them out of business,” Szubin, the US Treasury Department’s Acting Under Secretary for Terrorism and Financial Intelligence, told lawmakers at a hearing on the Iran nuclear deal.

Critics had charged the lifting of nuclear-related sanctions as part of the deal would free up money for Iran to use to sponsor terror abroad, particularly with Hezbollah, which it funds to the tune of $200 million a year, according to a recent US Homeland Security report.

The group has been bogged down in Syria, helping Iran prop up the regime of embattled President Bashar Assad, but has also continued to threaten Israel, with which it fought a bloody war in 2006.

Noting that Iran “supplies funding and weapons to Hezbollah,” Szubin affirmed that the Iran deal “has no impact on our efforts on this front.”

“In late January, we sanctioned a major Hezbollah financial support network, which was laundering criminal proceeds to support Hezbollah’s terrorism and destabilizing activity. And just last month, we published new sanctions regulations to implement the Hezbollah International Financing Prevention Act of 2015 – a law which gives us yet more tools in our campaign to destroy Hezbollah’s financial networks,” he told a House Foreign Affairs Committee, according to a transcript posted Wednesday on the Treasury Department’s website.

In February, an international sting operation netted members of a European Hezbollah cell accused of using millions of dollars from cocaine sales in South America to buy weapons for Syria, US officials said...

Tags: Hezbollah

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