The Trump administration on Thursday announced sanctions on a Lebanese bank with ties to Hezbollah in the latest effort to target the Iranian-backed organization.
Treasury Department announced sanctions on Jammal Trust Bank and its
subsidiaries, which it accused of knowingly facilitating banking activities for
Hezbollah. The U.S. labeled the bank a specially designated global terrorist
for its actions.
financial institution is the 26th largest bank in Lebanon, officials said.
role in Lebanon’s economy and financial system is limited, but its role as
Hezbollah’s bank of choice is prominent,” a senior administration official
administration on Thursday also targeted three individuals with sanctions who
it alleges moved tens of millions of dollars between Iran's Islamic
Revolutionary Guard Corps and an arm of Hamas in Gaza.
administration officials said Thursday’s actions targeting Jammal Trust Bank
should be viewed as a “warning shot” for Hezbollah and Iranian actors to keep
out of Lebanon.
officials argued that the sanctions on Jammal Trust will not interfere with
efforts to work with Lebanon, citing the U.S. relationship with the country’s
Trump administration has sought to crackdown on Iran and its affiliated groups,
sanctioning those with ties to Hezbollah and Tehran in an effort to cripple
considers Hezbollah a terrorist group. The Trump administration announced
sanctions in July targeting three senior Hezbollah officials who are members of
the Lebanese parliament.
Trump administration in April labeled the Revolutionary Guard a “foreign
terrorist organization,” the first time the United States has applied the label
to an entire government entity.