U.S. Sanctions Squeezing Iran-Backed Hizbullah in Lebanon

(AP) Bassem Mroue - The U.S. has intensified sanctions on Hizbullah and institutions linked to it to unprecedented levels. Walid Marrouch, an associate professor of economics at the Lebanese American University, says Lebanon's economy is 70% dollarized and since Lebanon is using this currency, Beirut has to abide by (U.S.) laws. U.S. Treasury Assistant Secretary for Terrorist Financing Marshall Billingslea visited Lebanon last week and announced that the U.S. was posting a $10 million reward for anyone who provides "valuable information on Hizbullah's finances." He said the main goal "was to deprive Hizbullah of all financial support, whether from Iran or through any other means." Billingslea said Iran used to send the group $700 million a year, adding that U.S. sanctions on Iran have "diminished considerably" the cash inflow.

2019-10-04 00:00:00

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