The Director General of Studies and Information in the Lebanese House of Representatives, Attorney Samer Fawaz, issued a statement in which he confirmed that he had absolutely no connection to the name that was circulated in the media and social media platforms, based on what was issued by the US Treasury Department. He explained that the matter was nothing more than a similarity in names, which necessitated this clarification and correction.
Fawaz’s statement came after the US Treasury Department’s Office of Foreign Assets Control (OFAC) announced the imposition of a new set of sanctions. The office stated that these sanctions target two financial mechanisms that Hezbollah relies on to achieve its profits, in coordination with Iran, by exploiting the informal financial system in Lebanon.
According to the American statement, the sanctions included the gold exchange company “Jood SARL”, which operates under the supervision of the Al-Qard Al-Hassan Association, and is already included on the sanctions lists. The company was considered responsible for converting gold reserves into cash used to support the party’s capabilities. The sanctions also targeted an international scheme to purchase and ship goods, which was supervised by party financiers in various countries, including Iran.
In this regard, US Treasury Secretary Scott Besent stated that Hezbollah “poses a threat to peace and stability in the Middle East,” and stressed that his country will continue to work to isolate these networks from the global financial system.
The statement indicated that the party continues to use Al-Qard Al-Hassan Association to facilitate its operations, despite its claim that it is a licensed non-governmental organization. He added that the association provides financial services that go beyond what is officially announced. OFAC also explained that the party faced financial difficulties at the beginning of 2025, which prompted it to establish a network of companies to trade gold inside and outside Lebanon, including “Jude S.A.L.”
The US Treasury confirmed that these measures were taken pursuant to amended Executive Order No. 13224, and include freezing assets, prohibiting transactions, and imposing civil or criminal penalties on violators, in addition to secondary penalties on foreign financial institutions that deal with listed entities.
