Treasury sanctions Lebanese businessman for ties to Hezbollah

The U.S. Treasury Department on Thursday sanctioned a Lebanese businessman with ties to a Middle East terror organization.

The Treasury Department is targeting Ali Yousseff Charara and his telecommunications company, Spectrum Investment Group Holding SAL, for providing millions of dollars to the Lebanese terror group Hezbollah through material and financial contributions. Charara and his company’s U.S. based assets have been frozen, and Americans are now barred from doing business with either party.

Charara received millions from Hezbollah “to invest in commercial projects that support the group,” according to Treasury, and has business ties to previously sanctioned Hezbollah supporters. 

Sen. Marco Rubio (R-Fla.) praised the sanctions, the first action taken by the Treasury Department against Hezbollah supporters since last year’s passage of [Hezbollah] International Financing Prevention Act. Rubio, a 2016 presidential candidate, and Sen. Jeanne Shaheen (D-N.H) were the original co-sponsors of the bill.

“These financial sanctions are an important step to crack down on Iran’s terrorist proxy Hezbollah by denying them critical financing they need to carry out their plots against America, Israel and our allies throughout the world,” Rubio said in a statement from his Senate office.

Shaheen also applauded the sanctions on Twitter.

.@USTreasury is cracking down on Hizballah financing. I’m glad my bipartisan bill will bolster these efforts. https://t.co/vsiH4wKPm7

— Sen. Jeanne Shaheen (@SenatorShaheen) January 7, 2016