▲ Israel under attack by Hezbollah (File Photo)
The Terrorist Financing Targeting Center (TFTC) member nations have imposed financial sanctions targeting the pro-Iranian Lebanese militant group Hezbollah, the U.S. Department of the Treasury announced on June 30 (local time).
The TFTC is co-chaired by the United States and Saudi Arabia, with Bahrain, Kuwait, Oman, Qatar, and the United Arab Emirates (UAE) as member states.
According to the U.S. Treasury, the TFTC has taken joint designation actions against "multiple key elements" of Hezbollah's financial infrastructure, including five entities and 16 individuals.
The list includes Al-Qard Al-Hassan (AQAH), Bayt al-Mal, and senior leaders of these organizations.
AQAH is a Lebanon-based underground financial institution linked to Hezbollah.
Bayt al-Mal serves as Hezbollah's unofficial treasury, or financial institution.
The Treasury stated, "The networks designated by the TFTC today threaten regional stability, international security, mutual interests, and global trade," adding, "By restricting Hezbollah's access to funds, TFTC member states are protecting the integrity of the international financial system, supporting the Lebanese people, and countering terrorist networks."
The TFTC was established in May 2017 during the first term of President Donald Trump.
This marks the ninth action taken by the center, and the third since the start of the second Trump administration.
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