The U.S. Treasury blacklisted several individuals and entities for allegedly aiding Hezbollah‘s financial activities.
The Office of Foreign Assets Control (OFAC) named Lebanese money exchanger Hassan Moukalled as a key player in the network.
He is accused of “enabling Hezbollah to continue to exploit and exacerbate Lebanon’s economic crisis” through his company, CTEX Exchange.
OFAC also designated Moukalled’s sons, Rayyan and Rani, for their alleged role in supporting their father’s activities.
“Today, the Treasury Department is taking action against a corrupt money exchanger, whose financial engineering actively supports and enables Hezbollah and its interests at the expense of the Lebanese people and economy,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence, Brian E. Nelson.
The Treasury claims Moukalled, a Lebanon-based economist, has worked closely with Hezbollah financial officials to establish the group’s presence in Lebanon’s financial system.
He allegedly acts as a financial advisor to Hezbollah, carries out business deals on the group’s behalf, and represents Hezbollah in negotiations with potential investors, partners, and even foreign government officials.
The Treasury also accused CTEX of obtaining significant market share within Lebanon’s currency transfer sector and collecting millions of dollars for the Central Bank of Lebanon, while also providing dollars to Hezbollah institutions and recruiting money changers loyal to Hezbollah.
“Hassan Moukalled has coordinated a wide range of issues with Muhammad Qasir, including business deals involving Russia, as well as efforts to assist Hezbollah in obtaining weaponry for Hezbollah’s use,” the Treasury charged, noting that Moukalled had publicly acknowledged his role in 2016 as an intermediary for negotiations between the Central Bank and Hezbollah.