US Slaps Sanctions on Two Key Hizballah Financiers, Disrupts Terrorist Network in West Africa
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated two key financiers operating in Guinea, aimed at disrupting Hizballah’s business network in West Africa and cutting off its revenue streams.
Background
Hizballah, a terrorist group, relies on bribery and influence to circumvent the rule of law and maintain its financial activities. The US government is committed to targeting the group’s international commercial activities and global network of financiers, supporters, donors, and facilitators.
Designated Financiers
The two individuals designated under Executive Order 13224 are:
- Ali Saade: Initiates money transfers from Guinea to Hizballah and has a close relationship with designated Hizballah supporter Kassem Tajideen.
- Ibrahim Taher: One of the most prominent financial supporters of Hizballah in Guinea, involved in bribing customs officials and using his status as Honorary Consul of Lebanon to Cote d’Ivoire to travel in and out of Guinea with minimal scrutiny.
US Action
As a result of today’s action:
- All property and interests in property of Saade and Taher that are in the United States or in the possession or control of US persons must be blocked and reported to OFAC.
- The US government has warned that engaging in certain transactions with the designated individuals entails risk of secondary sanctions.
Impact
The move is seen as a significant step in disrupting Hizballah’s terrorist financing network in West Africa. The ultimate goal of sanctions is not to punish but to bring about a positive change in behavior, officials said.
Quotes
“Today’s action exposes businessmen who support Hizballah’s destabilizing activities through bribes and other corrupt activity…The illicit financial activity of those designated today not only props up Hizballah but also undermines the legitimate commercial sector and rule of law in countries where such financial activity takes place.” - Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson