The U.S. Department of the Treasury has targeted significant Hezbollah procurement facilitators responsible for providing material support to enhance the group’s military and terrorist capabilities.
As part of the action taken in early November, the U.S. designated Hezbollah procurement agent Fadi Hussein Serhan, his company Vatech SARL, as well as Hezbollah procurement agent Adel Mohamad Cherri and his company Le-Hua Electronics Field Co. Limited.
The U.S. also designated two companies owned or controlled by Specially Designated Global Terrorist and Hezbollah procurement agent Ali Zeaiter.
The Treasury Department’s action against these two individuals and four companies were taken pursuant to Executive Order 13224, which targets terrorists and those providing support to terrorists or acts of terrorism.
As a result of this action, all assets of these individuals and companies that are under the jurisdiction of the United States or in the control of U.S. persons are frozen, and U.S. persons are generally prohibited from engaging in transactions with them.
These designations are part of ongoing efforts to target Hezbollah and its supporters under E.O. 13224, which have recently included actions against a key Hezbollah financial support network in Lebanon and Iraq, among numerous other designations.
“Hezbollah is a dangerous, destabilizing terrorist group, and Treasury is determined to maintain maximum pressure on this organization by targeting its many revenue streams,” said Adam Szubin, Acting Under Secretary for Terrorism and Financial Intelligence.
The U.S. action, he noted, “highlights Hezbollah’s exploitation of the commercial sector to support its military capabilities and facilitate acts of terrorism. [The U.S.] Treasury will pursue any individual or company providing support for this violent group.”
