The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on Friday designated “Hizbullah-affiliated financial facilitator Adnan Ayad,” as well as “members of an international network of facilitators and companies connected to him and to Adel Diab, Adnan Ayad’s business partner and fellow Hizbullah financier who was designated by OFAC on January 18, 2022,” it said in a statement.
“The sanctions evasion efforts of those designated today demonstrate how Hizbullah gains access to the international financial system and raises funds in support of its acts of terrorism and other illicit activities. These actions undermine the stability, security, and sovereignty of the Lebanese people,” the Treasury added.
It said “Hizbullah-linked financial facilitators” like Adnan Ayad and Adel Diab have “helped Hizbullah obtain funds through networks of companies that operate under the guise of legitimate business enterprises.”
“The designation of the Hizbullah financing network described below further demonstrates Treasury’s ongoing efforts to target Hizbullah’s attempts to exploit the global financial sector and evade sanctions,” the Treasury added.
“Today’s action exposes and targets Hizbullah’s misuse of the international financial system to raise and launder funds for its destabilizing activities as the Lebanese people suffer during an unprecedented economic crisis in Lebanon,” said U.S. Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson.
“Treasury is committed to disrupting Hizbullah’s illicit activity and attempts to evade sanctions through business networks while the group doubles down on corrupt patronage networks in Lebanon,” he added.
The Treasury said Adnan Ayad is a “Hizbullah member and businessman who, with recently designated Hizbullah financier Adel Diab, operates an international network of companies.”
“Adnan Ayad and Adel Diab have used their Lebanon-based company Al Amir Co. for Engineering, Construction, and General Trade SARL to raise funds and launder money for Hizbullah,” the Treasury charged.
The Treasury has also sanctioned the Zambia-based Hamer and Nail Construction Limited and Hamidco Investment Limited and the Lebanon-based Al Amir Co. for Engineering, Construction and General Trading SARL, Golden Group SAL Offshore, Inshaat Co SARL, Land Metics SARL, Landmetics SAL Off-Shore, Golden Group Trading SARL, Top Fashion Gmbh Konfektionsbügelei, and Jammoul and Ayad for Industry and Trade.
The Treasury had on Tuesday imposed similar sanctions on three “Hizbullah-linked financial facilitators and their Lebanon-based travel company.”