US sanctions target alleged Hezbollah gold exchange

The United States on Tuesday imposed sanctions against a gold exchange it said facilitates Iranian financial support to Hezbollah, the Lebanese Shia movement that has been battered by Israel.

The Treasury Department said the targeted gold exchange was part of Al-Qard al-Hassan, a Hezbollah financial institution already under US sanctions and whose branches were bombed by Israel in 2024 strikes.

"Hezbollah is a threat to peace and stability in the Middle East," Treasury Secretary Scott Bessent said in a statement.

"Treasury will work to cut these terrorists off from the global financial system to give Lebanon a chance to be peaceful and prosperous again."

The Treasury Department imposed sanctions on the gold exchange, Jood Sarl, which it said "masquerades as a non-governmental organization" and is used to ensure Hezbollah's cash flow from Iran.

It also said it was imposing sanctions on a number of individuals or entities, including a Russian national, for working on Hezbollah's finances.

The sanctions freeze any assets in the United States and make financial transactions with the listed entities a crime.

Israel struck a major blow against Hezbollah in the 2024 war, killing its longtime leader Hassan Nasrallah, a year after Hamas, another group backed by Iran, carried out a devastating attack against Israel.

In accordance with a truce, the Lebanese army said it had disarmed Hezbollah in an area close to the Israeli border. But Hezbollah has refused to surrender further arms and Israel says progress is insufficient, keeping up periodic attacks and occupying five points in south Lebanon in violation of the ceasefire.