US TREASURY TARGETS FACILITATORS MOVING MILLIONS TO HAMAS IN GAZA AND DESIGNATES BANK PROVIDING FINANCIAL SERVICES TO HIZBALLAH

The US Treasury on 29th August published 2 news releases.

One said that, in conjunction with Oman, it had designated financial facilitators responsible for moving tens of millions of dollars between Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) and HAMAS’s operational arm, the Izz-Al-Din Al-Qassam Brigades in Gaza.  4 individuals were named.  The news release said that the Lebanon and Gaza-based financial facilitators targeted are critical intermediaries between the Iranian regime, and the Izz-Al-Din Al-Qassam Brigades and end users in the West Bank.   At the centre of this scheme is a Lebanon-based financial operative, Muhammad Sarur, who has been identified as being in charge of all financial transfers between the IRGC-QF and the Izz-Al-Din Al-Qassam Brigades, and has an extensive history working at Hizballah’s sanctioned bank, Bayt al-Mal.   Bayt al-Mal was designated by OFAC in 2006 for being owned or controlled by, and acting for or on behalf of Hizballah.  Also sanctioned today are 3 Gaza-based individuals who have been integral to providing funding to HAMAS’s prisoner and martyrs infrastructure in the West Bank and Gaza.

The other news release said that OFAC had designated Jammal Trust Bank SAL, a Lebanon-based financial institution that knowingly facilitates banking activities for Hizballah.  OFAC also designated Jammal Trust’s Lebanon-based subsidiaries Trust Insurance S.A.L., Trust Insurance Services S.A.L., and Trust Life Insurance Company S.A.L., for being owned or controlled by Jammal Trust.  OFAC says that the Jammal Trust has a longstanding relationship with a key Hizballah financial entity and provides financial services to Hizballah’s Executive Council and the Iran-based Martyrs Foundation.

https://home.treasury.gov/news/press-releases/sm761

https://home.treasury.gov/news/press-releases/sm760

https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20190829.aspx

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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