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.

(With inputs from agencies.)