Monday, October 25, 2021

US sanctions financial network aiding Hezbollah

29 September (WNN) — The US and Qatari governments on Wednesday issued sanctions on several people accused of funding Hezbollah, a Lebanese militant group.

Those named in the sanctions include Qatari, Saudi, Bahraini and Palestinian citizens, the US Treasury Department said in a news release announcing the action. The sanctions confiscated property for seven individuals in the United States and made it a crime for Americans to do business with them.

“Hezbollah seeks to abuse the international financial system by developing a global network of financiers to replenish its coffers and support its terrorist activity,” said Andrea M. Gaki, director of the Office of Foreign Assets Control. “The cross-border nature of this Hezbollah financial network underscores the importance of our continued cooperation with international partners such as the government of Qatar to protect the US and international financial systems from terrorist abuse.”

The US government has designated Ali Reda Hassan al-Banai, Ali Reda al-Qasabi Lari and Abd al-Muyyad al-Banai as terrorists for materially aiding, sponsoring, or providing financial, material or technical assistance to Hezbollah. Nominated.

The Treasury Department said Ali al-Banai and Lari sent tens of millions of dollars to the group through the formal financial system and cash couriers. He also reportedly met with Hezbollah officials in Lebanon and Iran.

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Ali al-Bana’i and his brother, Abd al-Bana’i, are also accused of having joint accounts, which they used to transfer money to Hezbollah.

The Treasury Department release named Abd al-Rahman Abd al-Nabi Shams, Yahya Muhammad al-Abd-al-Muhsin, Majdi Fayez al-Ustadz and Sulaiman al-Banai as Specially Designated Global Terrorists.

Shams, who is Ali al-Banai’s nephew, is accused of coordinating two real estate projects in Bahrain and distributing funds on behalf of his uncle. The government of Bahrain has frozen their bank accounts.

The Treasury Department said Abd-al-Muhsin, a Saudi relative of Lari, managed Ali al-Banai’s real estate in Bahrain, Saudi Arabia and the United Arab Emirates, and Lari’s business in the United Arab Emirates.

Suleiman al-Banai, one of Ali al-Bana’i’s relatives, was a steward for the latter’s business activity in Qatar and elsewhere.

The Treasury Department also designated the business Aldar Properties, which is owned by Suleiman al-Banai.

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