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Rubio Praises U.S. Sanctions Targeting Foreign Bank for Hizballah Terror Financing

Aug 29, 2019 | Press Releases

Miami, FL — U.S. Senator Marco Rubio (R-FL) today issued a statement after the U.S. Treasury Department, pursuant to Executive Order 13224, designated Jammal Trust Bank SAL, a Lebanon-based financial institution, and three of its subsidiaries as “Specially Designated Global Terrorists” (SDGTs) for knowingly facilitating the financial activities of the Iran-backed Hizballah terrorist group.  Today’s designation also subjects Jammal Trust Bank and its subsidiaries to secondary sanctions under U.S. regulations implementing the Rubio-authored Hizballah sanctions laws.
 
“The Treasury Department’s sanctions against Jammal Trust Bank put on notice all foreign financial institutions that enable Iran-backed Hizballah and its activities,” Rubio said. “I thank the Administration for its actions today to counter Hizballah, and I urge it to continue fully enforcing the sanctions laws that I authored to combat Hizballah’s terrorist financing.”
 
Senator Rubio authored the 2018 sanctions law, the Hizballah International Financing Prevention Amendments Act (Public Law 115-272), with Senator Jeanne Shaheen (D-NH), Banking Committee Chairman Mike Crapo (R-ID), and Banking Committee Ranking Member Sherrod Brown (D-OH). Rubio also co-authored the 2015 law, the Hizballah International Financing Prevention Act (Public Law 114-102).
 
Related:

  • On July 9, 2019, Rubio praised new Treasury sanctions on Iran-backed Hizballah operatives for supporting terrorism