U.S. House of Representatives Approves New Sanctions Against Banks Dealing with Hezbollah

On Wednesday, December 16, the U.S. House of Representatives unanimously passed new sanctions against banks that have financial dealings with the Lebanese Hezbollah movement. The Hezbollah group, which is supported by the Islamic Republic of Iran, is listed as a terrorist organization by the United States. According to AFP, the bill titled 'Preventing Hezbollah's International Financing' had also been approved by the U.S. Senate last month. This legislation requires the signature of Barack Obama, the President of the United States, for final approval. The bill was passed in the House with 422 votes in favor and no opposing votes. According to a U.S. official quoted by the news agency, Barack Obama will sign this legislation immediately. The unnamed U.S. government official stated, 'The President will sign this bill. We have been working with Congress for many years to apply pressure on the terrorist organization Hezbollah and are closely monitoring its implementation.' This legislation warns foreign banks against conducting transactions with Hezbollah in Lebanon and allows the U.S. Treasury Department to impose severe sanctions on any financial institution that collaborates with this 'terrorist group.' This bill is the result of close cooperation between the White House and Congress, which is why it received comprehensive support from both parties in the House and Senate. The summary of this bill states that its purpose is to 'prevent Hezbollah's global financial and support network from carrying out domestic and international operations' and 'to utilize all diplomatic, legal, and executive channels to counter the criminal actions of this group so that it cannot raise funds for its terrorist activities worldwide.' The new U.S. sanctions also target companies providing satellite, broadcasting, and internet services that collaborate with Hezbollah's television station, Al-Manar.