US Pressure Mounts on Lebanon to Curb Hezbollah's Financial Flows Before Elections

The US is urging Lebanon to cut off funding to Hezbollah before its parliamentary elections, particularly focusing on a quasi-bank affiliated with the group. Washington is concerned about Hezbollah's financial maneuvers, including using cryptocurrencies, and has urged Lebanon to take action against violators of sanctions and Lebanese laws.

During a visit to Beirut, a high-ranking US Treasury official emphasized Washington's push for Lebanese action against Hezbollah's financial operations ahead of next year's parliamentary elections. The US is particularly concerned about a quasi-bank linked to the group.

John K Hurley, Under Secretary for Terrorism and Financial Intelligence, highlighted the US belief that Hezbollah plans to channel USD 1 billion into Lebanon. Despite acknowledging some progress, he urged further Lebanese efforts in combating illegal fund flows.

The US has denied imposing deadlines but underscored a critical pre-election window for action. Concerns about funds carried as cash, gold, and cryptocurrency through regional partners like UAE and Turkey, as well as exchange houses, were discussed.