Sanctions against bank in Lebanon intended to stall terrorist acts of Hezbollah, send message to bad actors in the region

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By Mona Austin

The U.S. has hit Jammal Bank & Trust of Lebanon with sanctions for financing Hezbollah, the terrorist organization connected to carrying out suicide bombings.  The U.S. Department of the Treasury alleges the 50-year-old commercial bank provides financial support to the families of suicide bombers  through the Hezbollah Executive Council and Iran’s Martyrs Foundation.

Per the U.S. State Department, Jammal Bank, which is ranked 26th in its country, is the militant group's "bank of choice", but, "This action is a warning to all who provide services to this terrorist group." 

The Lebanon's Central Bank is cooperating and said it will ensure depositers are not subject to the sanctions.The U.S. is sending a message to all bad actors who give financial support to Hezbollah, especially Iran. "Of course the same goes for banks connected to Iran. They're going to be severely cut off from international financial systems." In a statement, Jammal Bank denied any ties with Hezbollah, although it was listed among 11 banks in the region that were sued by a group of Lebanese Americans in January for funding terrorists. Senior Administration officials said Jammal Bank was a significant target, but their message is direct at "any bank, anywhere" that support funds terrorists is that, "The U.S. is very, very serious about disrupting communities where we fill it is warranted, but this action is limited to Jammal Trust."An official told the Slice the U.S. has made concerted effortts against a number of the biggest financial facilitators and Hezbollah related entities over the last two years, but has "numerous reasons" to target this particular bank as a part of over-all counter-terroism measures in the region. "The message is also clear that we will not hesitate to take actions," the official said.During a visit to Washington by Lebanese Prime Minister Saad al-Hariri  two weeks ago, this issue did not come up in his talks about Hezbollah.  He was here then to discuss the United Arab Emirates (UAE) interest in investing in infrastructure of Lebanon. The U.S, military is he biggest foreign backer of  Lebanon, sustaining a vested inersted in the region

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