A Hezbollah flag flutters in the wind in the southern Lebanese village of Meiss al-Jabal on Dec. 16, 2018. (Credit: AFP)
BEIRUT — The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned two Syrian money service businesses for allegedly helping the Syrian government, Hezbollah and the Islamic Revolutionary Guard Corps-Qods Force.
OFAC has sanctioned the three brothers who own and operate Al-Fadel Exchange, the treasury department said in a statement. These designations are pursuant to Executive Order (E.O.) 13582 of August 17, 2011, titled “Blocking Property of the Government of Syria and Prohibiting Certain Transactions With Respect to Syria,” as well as the Caesar Syrian Civilian Protection Act of 2019 and underscore the serious threat posed by individuals in the financial system who actively enable violent regimes to circumvent sanctions.
"Al-Adham Exchange Company, headquartered in Damascus, has also facilitated millions of dollars in transfers since 2021 to accounts at the Central Bank of Syria that likely directly benefit the Syrian Government and President Bashar al-Assad," the statement added.
“Bashar al-Assad’s regime continues to rely on witting partners and deception to violate U.S., UK, and EU sanctions, while ignoring the needs of the Syrian people,” Brian Nelson, the U.S. Department of the Treasury’s Under Secretary for Terrorism and Financial Intelligence said.
“The United States will continue to push for reforms that will improve the conditions of people living under Assad and to hold accountable those who enable the regime’s continued repression of its people," Nelson added.