A U.S. Treasury official claimed that the Lebanese terror group Hezbollah is in its “worst financial shape in decades.”
Adam Szubin, the U.S. Treasury Department’s acting under secretary for terrorism and financial intelligence, who was also the chief architect of U.S. sanctions on Iran, told lawmakers from the House Foreign Affairs Committee, “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 also said the Iran nuclear deal has had “no impact on our efforts” to target Iranian funding and weapons transfers for Hezbollah, one of Iran’s terror proxies.
“In late January, we sanctioned a major Hezbollah financial support network, which was laundering criminal proceeds to support Hezbollah’s terrorism and destabilizing activity,” Szubin said. “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.”
The Hezbollah International Financing Prevention Act, passed last December, aims to sanction international financial institutions that knowingly facilitate Hezbollah’s activities.