US Targets Financial Networks Aiding Iran, Armed Proxy Groups, and Syrian Drug Trade With New Sanctions

The US on Tuesday announced new sanctions targeting individuals and entities across six countries for their roles in supporting Iran’s military and allied armed proxies, Hizbullah in Lebanon and the Houthis in Yemen. The Treasury Department’s Office of Foreign Assets Control has sanctioned a network involving six firms, two tankers, and a money exchanger based or registered in countries including Liberia, India, Vietnam, Lebanon, and Kuwait. These sanctions aim to disrupt the financial and logistical operations that bolster Iran’s regional military alliances, particularly as tensions escalate in the Middle East.

The conflict between Hizbullah and Israel has intensified, with daily exchanges of fire raising fears of broader regional conflict. Hizbullah, despite significant losses, vows to continue its assaults until a cease-fire in Gaza is achieved. Simultaneously, the Houthi rebels in Yemen have been targeting maritime routes in the Red Sea, aiming to pressure Israel amid its conflict with Hamas in Gaza.

Additionally, the US has imposed sanctions on 11 individuals and entities for aiding the Syrian government in evading sanctions and for involvement in the Captagon drug trade, a lucrative industry linked to the Syrian regime and Hizbullah. Among those sanctioned are a Syrian businessman and his company for smuggling Captagon into Europe.