An employee arranges money bundles at the Central Bank in Beirut, Monday, Sept. 30, 2013. (The Daily Star/Hasan Shaaban)
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Once again the ability of the Lebanese economy and banking sector to sidestep the ramifications of the expected U.S. sanctions against Hezbollah will be tested. So far, Lebanon has prudently and cautiously handled the spate of U.S. measures designed to tighten the noose on the finances of Hezbollah, labeled by Washington as a terrorist organization.Lebanese banks, with the guidance of the Central Bank, have fully complied with all resolutions by the U.S. Treasury, suspending all accounts of any suspected Hezbollah official listed by the U.S. Office of Foreign Assets Control.The economy in general also has managed to escape unscathed the severe financial measures taken against Hezbollah.Hezbollah Secretary-General Sayyed Hassan Nasrallah admitted in his last speech that the new U.S. measures have affected the party.Paul Morcos, a law professor and a leading legal adviser, assured that Lebanese banks will not be affected by any new U.S. measure against Hezbollah.
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