Report: Lebanese Banks Await New List of U.S. Sanctions
U.S. authorities are in the process of preparing a new list of persons and institutions who will be included in the financial sanctions imposed on Hizbullah, al-Akhbar daily reported on Wednesday.
Sources close to Central Bank Governor Riad Salameh said that the regulations will not trigger additional complications to the “political scene”, especially between Hizbullah and the BDL governor Riad Salameh, now that all Lebanese banks have committed to the application of the mechanism that does not allow the expansion of punitive measures to include people and institutions not covered by the sanctions, added the daily.
U.S. President Barack Obama signed the Hizbullah International Financing Prevention Act on December 18.
The U.S. regulations say Washington will target those "knowingly facilitating a significant transaction or transactions for" Hizbullah or any individual, business or institution linked to the group.
Those under sanctions include Hizbullah leader Sayyed Hassan Nasrallah and slain top commander Mustafa Badreddine as well as some businessmen. The list also includes the group's al-Manar TV and al-Nour Radio.
Earlier, two banks have reportedly suspended Hizbullah-linked accounts in what they said is in conformity with the U.S. sanction. The move drew the ire of Hizbullah circles which they said it “crossed the line.”
Later, Salameh had assured that Lebanese banks will abide by the restrictions but he stressed that they must “offer justifications” and consult with the Central Bank before suspending accounts suspected of violating the anti-Hizbullah U.S. sanctions law.
In June, an agreement was reached between Salameh and Hizbullah, under which it stressed the necessity to comply with the conditions laid down by the Special Investigation Commission (SIC) to prevent the banks from taking individual decisions in this regard.
over 8 years
How do you call this? Democracy or Zionist behavior?
over 8 years
resistance behavior
over 8 years
This has nothing to do with democracy.
When you use the USD that means you are working within their banking system. Their currency, their laws.
over 8 years
shame to see lebanese institutions taking their instructions from the US
over 8 years
mowaten - again I reiterate, their currency their banking laws. Lebanese Banks have to comply or they shut them out of the swift market. Please see what happened to FBME in Cyprus.
over 8 years
georgeskyp reiterate you broken record as much as you want, nothing nowhere says that using a currency makes you have to obey those who print it. plus, the only ones profiting from the world using USD are the US themselves, not using USD anymore would harm the US and no one else.
over 8 years
and this has nothing to do with the currency used, it's plainly and simply the US doing israel's bidding, and pressuring lebanese banks into doing the same
over 8 years
Which country are you a mowaten of ? Iran, Syria, Gaza, Iraq, or Yemen..... Certainly not Lebanon!
over 8 years
@mowaten, I will have to treat you like an idiot since it seems you don't understand basic banking laws and feel its necessary to be rude.
You said "nothing nowhere says that using a currency makes you have to obey those who print it" except of course you have to obey their laws as whenever you transfer USD it goes through a US bank for clearance. Even If transfer USD within Lebanon from bank to bank it has to go via New York corresponding bank.
Now stop talking like a child and educate yourself.
over 8 years
How is it democracy when the U.S impose sanctions on a sovereign nation?
over 8 years
It's not approved by the Lebanese parliament so expect the people to resist these foreign sanctions.
over 8 years
Hezbollah is part of the parliament.
And the people loves their Resistance, and it will not be the Resistance itself that will uproar riot against these banks, but the Resistance supporters sure how as myself will.
over 8 years
@terr: you are an empty life immigrant, half Saudi and half zionist, i wonder how they managed to come across.
over 8 years
Its simple really. If lebanon wants to use the USD dollar then you need to abide by their laws.
over 8 years
we'd rather not use the USD actually
over 8 years
the reistance have proven that it is undefeatable, 2006 war, STL and several assassinations conducted by CIA and agents.... now through financial sanctions which are proving to be useless, unless they want to apply it to hospitals and charities, then it's different matter... now eat your fingers.
over 8 years
It's really not that complicated. The U.S. considers Hezbollah an enemy and is telling banks all over the world "you can't do business with us if you do business with our enemies. Your choice".
The Lebanese business banks who choose to stop doing business with HA risk receiving a pretty "loud" protest note from the latter.
It might be more practical for HA to move all its accounts to Tehran. It's good to keep money close to its source. Faster transfer time -;)
over 8 years
Excellent idea.
over 8 years
When you read the comments from Northern, non-mowaten..etc...who can deny that Ebola is a disease???
over 8 years
A disease which has destroyed the brains of their followers.
over 8 years
I respect Mr. Mowaten and all his accounts equally.
Lebanese Banks Await New List of U.S. Sanctions
accordingly
Lebanese Banks Await New Blom Bank Like Bombings.