April 24, 2019

Hizballah business operations targeted by OFAC

The Office of Foreign Assets Control of the US Department of the Treasury has designated three entities and two individuals pursuant to Executive Order 13224, for helping a designated entity, Hizballah, to evade sanctions.  The designations follow the US State Department’s April 22, 2019 addition of the designated individuals, Wael Bazzi and Hazzan Tabaja, to its Rewards for Justice program, which offers rewards for information that helps bring terrorists to justice and disrupts the financing of terrorist groups. As a result of the designations, all US property interests of 50% or more held by the designated parties are blocked.  Secondary sanctions also apply to the three entities and two individuals, allowing OFAC to prohibit or impose conditions on the opening of correspondent or payable-through accounts in the US by a foreign financial institution that knowingly facilitates a significant transaction for Hizballah or a person acting on behalf of Hizballah.

US Dept. of the Treasury press release | US Dept. of State Rewards for Justice