US Sanctions Five Individuals for 'Circumventing Hezbollah Sanctions'

On Thursday, May 2, the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury sanctioned five individuals for evading sanctions and facilitating illegal activities in support of Hezbollah in Lebanon. OFAC stated in a notice that these individuals assisted Hassan Moghled and his currency exchange company, 'C-Tex Exchange,' which is under U.S. sanctions, in evading sanctions and facilitating illegal activities in support of Hezbollah. According to the statement, the sanctioned individuals, including two founders of this company and two of Moghled's sons, manage two companies in Lebanon and the United Arab Emirates. These companies were simultaneously sanctioned for supporting terrorist groups and those who assist in terrorist activities. Brian Nelson, Deputy Secretary of the Treasury for Terrorism and Financial Intelligence, said, 'Hezbollah continues to rely on seemingly legitimate business investments and key facilitators to generate revenue aimed at financing the group's operations, including destabilizing attacks across Israel's northern border.' He added, 'The United States remains focused on relentlessly tracking Hezbollah's primary revenue sources and limiting its ability for destabilizing actions in the region.' This OFAC action follows the sanctions against Moghled and his companies and his two sons, Ryan and Rani Moghled, which were announced on January 23, 2023. The OFAC statement noted that the UAE has also added these individuals and Moghled's currency exchange company to its terrorist list. Moghled continues to serve as a financial advisor to Hezbollah and collaborates closely with senior financial officials of Hezbollah, including Mohammad Qasir, to represent Hezbollah's business interests throughout the Middle East. Moghled co-founded the 'CTX' company with senior Hezbollah officials, including Mohammad Qasir and Mohammad Qassem al-Bazal, to facilitate Hezbollah's financial activities. OFAC had sanctioned Mohammad Qasir and Mohammad Qassem al-Bazal in 2018 for collaborating with Hezbollah. Adnan Mahmoud Youssef, an employee of Moghled's company, has been seeking investors since mid-last year to establish companies in the UAE aimed at circumventing the sanctions imposed by that country against Moghled. Youssef has participated in business dealings, including discussions about proposals and profitability, with Ryan Moghled and Rani Moghled. Additionally, Youssef has engaged in business transactions with Mohammad Ibrahim Bazi, a U.S.-sanctioned financier of Hezbollah, receiving over one million dollars from him. According to this statement, Mazen Hassan al-Zain is a business advisor based in the UAE for Moghled. Al-Zain also held a managerial role in a parent company that managed several companies that these three intended to establish in the UAE on behalf of Moghled. Moghled appointed al-Zain as his representative to coordinate his activities with Moghled's associates. The U.S., UK, and Canada imposed coordinated sanctions against the Islamic Republic. The UK imposed new sanctions against the Islamic Republic in coordination with the United States. The Israeli army reported the killing of several Hezbollah commanders in southern Lebanon.