Chairman Royce Applauds Hezbollah-Related SanctionsPress Release
Washington, D.C. – House Foreign Affairs Committee Chairman Ed Royce (R-CA) today welcomed the Treasury Department’s announcement of the first sanctions against a Hezbollah financier and related front company following enactment into law of his bill, the Hezbollah International Financing Prevention Act (H.R. 2297):
“Hezbollah has been operating throughout international financial markets for years to finance their terrorist operations and launder monies gained from various criminal enterprises. The billions of dollars Hezbollah gains each year by direct contributions from Iran, as well as those raised through drug and arms smuggling, counterfeit goods and pharmaceuticals and other illicit activities are the lifeblood of this terrorist group. Today’s action by the U.S. Treasury targeting their fundraising and operational capabilities is an encouraging step."
Note: On December 18, 2016 President Obama signed into law HR 2297, Chairman Royce’s Hezbollah International Financing Prevention Act. Today, the U.S. Department of Treasury announced the imposition of sanctions against a leading Hezbollah operative and an affiliated front company, the first sanctions of this type issued since enactment of the bill.