BEIRUT: The US House Foreign Affairs Committee Thursday passed an amended version of H.R. 4411 aimed at preventing Hezbollah from receiving financing through international institutions.
The Hezbollah International Financial Prevention Act of 2014 was introduced by Rep. Mark Meadows (R-NC).
The Committee Chairman Ed Royce said, “The threat posed by Hezbollah’s global operations has exploded. Underpinning that development is a financing and logistical network. In 2011, we saw the tip of the iceberg when a massive Hezbollah drug and money laundering operation was uncovered. To deter dealings with Hezbollah, the bill targets those financial institutions that knowingly do business with what has been called the “A-team” of terrorists.”
The Committee drafted the law against Hezbollah on April 3. Lawmakers at the time said Hezbollah continued to “pose a threat to the United States, our allies and interests throughout the Middle East, and well beyond.”
The U.S. announced last August that it was sanctioning Hezbollah over its support for the Syrian regime, a largely symbolic move as the group has been subject to financial restrictions since it was classed as a terrorist group in 1995. In September, the U.S. imposed further financial sanctions against Hezbollah chief Sayyed Hasan Nasrallah for giving assistance to Assad.
The U.S. has repeatedly taken a stance against the Syrian regime of Bashar al-Assad and the backing by Hezbollah since the Syrian uprising began in 2011.