U.S. Government Imposes Additional Sanctions Targeting Hezbollah Support Network, Cutting Off Iranian Funding

[Financial News] The U.S. government has imposed new sanctions on individuals and companies that assisted Hezbollah and other Iran-backed militant groups. The measure reflects Washington’s determination to completely cut off major sources of revenue for the authorities in Tehran.
According to foreign media reports on the 10th local time, the Treasury Department’s additional sanctions are part of “Operation Economic Outcast,” launched on August 24. The operation aims to disrupt the flow of funds Iran uses to finance wars, develop missiles, conduct cyberattacks and support the Islamic Revolutionary Guard Corps (IRGC).
The Treasury Department’s Office of Foreign Assets Control (OFAC) designated organizations and individuals based in Iraq, Lebanon and Türkiye for sanctions. Washington believes they have provided support to Kata'ib Hezbollah and Lebanese Hezbollah.
Kata'ib Hezbollah, an Iraqi Shiite paramilitary organization under the command of the IRGC, is known to be the main perpetrator behind the abduction of Israeli researcher Elizabeth Tsurkov. Tsurkov was held for two and a half years before being released last year following pressure from the U.S. government and assistance from Iraqi security authorities.
Separately, the Treasury Department reached a settlement to receive $1.43 million, approximately 1.9 billion won, from a U.S. national over civil liability for allegedly violating sanctions against Iran 39 times. It also publicly called for tips from whistleblowers regarding Iran’s sanctions evasion and money-laundering activities.
OFAC said it would further tighten its Iran-related licensing policy. It plans to reject most applications except in exceptional circumstances, and its licensing division has already begun denying the “vast majority” of pending requests for special Iran-related licenses.
The Treasury Department emphasized, “We will maintain this strict licensing policy unless Iran changes its existing behavior, including obstructing passage through the Strait of Hormuz, attacking U.S. forces and partner countries in the Gulf region, and developing nuclear and conventional weapons.”
U.S. Treasury Secretary Scott Bessent said the sanctions directly target individuals and networks that continue to support the regime in Tehran.
In a statement, Secretary Bessent warned, “‘Operation Economic Outcast’ targets those who stand with Iran’s crumbling regime. Whether they fund terrorism, launder money or help Iran evade sanctions, we will pursue them to the end, isolate them from the U.S. financial system and dismantle the networks that keep the regime alive.”
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