U.S. sanctions Lebanese bank over ties to Hezbollah

U.S. sanctions Lebanese bank over ties to Hezbollah

The United States announced sanctions on a Lebanese bank with ties to Hezbollah yesterday.

The U.S. 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.

The financial institution is the 26th largest bank in Lebanon, officials said.

"It’s role in Lebanon’s economy and financial system is limited, but its role as Hezbollah’s bank of choice is prominent," the Hill cited a senior administration official as saying.

The administration also targeted four 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.

Senior 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.