Latest news with #ThomasBarrack
The National
an hour ago
- Politics
- The National
France threatens sanctions on Iran, and Lebanon receives response on Hezbollah
France is threatening Iran with UN sanctions if a deal is not reached on its nuclear programme. Lebanese officials have received a response to their proposal to US special envoy Thomas Barrack over the disarmament of Hezbollah. An Ultra-Orthodox political party quit the Israeli government. On today's episode of Trending Middle East: France threatens Iran with UN sanctions by end of August Lebanon receives US response over Hezbollah disarmament as 12 killed by Israeli attacks on Bekaa Valley Blow for Benjamin Netanyahu as ultra-Orthodox party quits coalition This episode features Sunniva Rose, Europe Correspondent; Jamie Prentis, Beirut Correspondent; and Thomas Helm, Jerusalem Correspondent.
Reuters
an hour ago
- Business
- Reuters
Lebanon bans dealing with Hezbollah financial entity
BEIRUT, July 15 (Reuters) - Lebanon's central bank has banned banks and brokerages from dealing with a Hezbollah-affiliated financial institution, according to a circular, a sign of the group's diminished sway over state affairs since its devastating war with Israel. Keeping up military pressure on the Iran-backed group, Israel on Tuesday launched some of its heaviest airstrikes since a ceasefire in November, saying it hit training camps and weapons depots in eastern Lebanon. A security source in Lebanon said 12 people were killed, five of them Hezbollah fighters. Hezbollah has faced mounting pressures since the war, including financial ones. In the circular, dated Monday and reviewed by Reuters, Banque du Liban prohibited all licensed financial institutions in Lebanon from dealing directly or indirectly with unlicensed entities and listed Hezbollah's Al-Qard Al-Hassan as an example. U.S. Special Envoy Thomas Barrack described the move in a post on X on Tuesday as a "step in the right direction." The ban follows a visit by the U.S. envoy to Beirut last week, where he received Lebanon's reply to a U.S. proposal on disarming Hezbollah. "Transparency and alignment of all financial intermediaries in Lebanon under the supervision of the Central Bank is a valued and necessary accomplishment," he said. The U.S. Department of the Treasury imposed sanctions on Al-Qard Al-Hassan in 2007, saying Hezbollah used it as a cover to manage "financial activities and gain access to the international financial system." Bolstered by its powerful arsenal, Hezbollah had long exercised decisive influence over Lebanese state affairs, but it was unable to impose its will in the formation of a post-war government in February. Al-Qard Al-Hassan, founded in 1983, describes itself as a charitable organisation that provides loans to people according to Islamic principles that forbid interest. Israel struck some of its branches during its war with Hezbollah last year. Operating as a not-for-profit organisation under a licence granted by the Lebanese government, it has more than 30 branches, mostly in predominantly Shi'ite Muslim areas of Beirut, southern Lebanon, and the Bekaa Valley. A Lebanese official said the central bank move had been in the works for months, and reflected U.S. pressure on Lebanon to take action against Hezbollah's financial wing. Nassib Ghobril, chief economist at Byblos Bank, said Lebanese banks were already careful to avoid dealing with Al-Qard Al-Hassan because it is under U.S. sanctions. "The important point is that finally the authorities are addressing the shadow economy in Lebanon, which is the real problem," he said, adding that authorities had long failed to address its "toxic effects". In June, the European Commission included Lebanon in an updated list of high-risk jurisdictions presenting strategic deficiencies in their national anti-money laundering and countering the financing of terrorism. Last year, global financial crime watchdog FATF placed Lebanon on its "grey list" of countries under special scrutiny.
The National
10 hours ago
- Business
- The National
Lebanon banks banned from dealing with Hezbollah's financial networks
Lebanon 's banks have been banned from dealing with financial networks linked to Hezbollah, according to a document seen by The National. The Hezbollah-affiliated institutions include Al-Qard Al-Hasan Association, which has been providing compensation to residents affected by the latest war with Israel. Others are Tashilat SARL, Yousser Company and Bayt al-Mal. The decision, made by Lebanon's Central Bank, comes as Hezbollah, once a formidable militia and influential political party in Lebanon, is weakened significantly by months of conflict with Israel that destroyed much of its leadership and arsenal. Hezbollah is now under unprecedented pressure to disarm after the war ended in a November ceasefire brokered by the US and France. Its disarmament, once a taboo, is now on the table. US special envoy Thomas Barrack said in a post on X on Tuesday that the ban was a 'step in the right direction'. Mr Barrack visited Beirut last week, where was handed Lebanon's reply to a US plan aimed at disarming Hezbollah. According to a central bank circular, all financial institutions licensed by it - as well as brokers - are banned from conducting any transactions, directly or indirectly, with institutions including Al Qard Al Hassan. Failure to comply with the decision could result in legal action, such as suspension or revocation of licences, freezing of accounts and assets, or referral to the Special Investigation Commission, the memo said. All the financial companies cited in the document are under US sanctions, accused of providing financial support to Hezbollah's network. Tashilat SARL was the latest to be added to the US Treasury's sanctions list in early July. The organisation and seven senior officials were listed over their association with Al Qard Al Hassan. Last year, the Financial Action Task Force (FATF) added Lebanon to its "grey list" of jurisdictions under enhanced scrutiny. Founded in 1983 and registered as a non-governmental organisation in Lebanon, Al Qard Al Hassan has grown to become the country's largest microcredit provider, particularly serving the Shiite community. Before the war, it was running more than 30 branches across Lebanon, including 15 in Beirut and its suburbs. Israel destroyed and damaged several of its branches during last year's conflict with Hezbollah. Lebanese banker Jean Riachi told The National that nothing has changed for the banks. 'Banks, in principle, do not work with sanctioned entities,' he said. 'There's certainly a symbolic element to naming Al Qard Al Hassan directly. It's unusual to single out a specific entity in a central bank circular, that's generally not done." He explained that previous circulars did not explicitly ban institutions other than banks, such as money transfer agencies and e-payment platforms, from dealing with Al Qard Al Hassan and linked agencies. 'Banks already avoided these entities under the cover of compliance requirements from foreign correspondent banks,' Mr Riachi said. "But these entities don't have correspondents abroad anyway, so technically they weren't affected." He added that the move was a positive step towards improving compliance, while not addressing the core of the issue, that these Hezbollah-affiliated institutions are not licensed with Lebanon's Central Bank. 'It's a good step but no one has dared to go further and declare what they're doing as illegal. Because technically, to operate as a bank, you need a licence from the Central Bank of Lebanon. They're not doing it, it's still a highly political issue."
The National
18 hours ago
- Politics
- The National
Syrian forces enter Druze heartland of Sweida after deadly clashes
Syrian government forces and allied militias have entered the Druze minority's heartland of Sweida, in southern Syria, state media reported on Tuesday. Meanwhile, Israel has carried out more strikes on the area, following deadly clashes in the area between armed groups and local tribes. Thousands of troops and auxiliaries entered the city from the west and north after the Druze spiritual leadership, headed by Hikmat Al Hijri, announced that the province 'should be spared' further bloodshed, and that security forces should be let into the provincial capital to restore security and stability. The Syrian Defence Ministry said that 'Syrian Arab Army forces have started entering the city of Sweida'. But an hour after instructing Sweida residents to allow government forces into the city, Mr Al Hijri appeared in a video saying that the provincial capital continued to come under random shelling and that its people should 'make a stand for dignity'. Defence Minister Murhaf Abu Qasra was a commander in Hayat Tahrir Al Sham, an Al Qaeda splinter group that took power after leading the overthrow of former president Bashar Al Assad in December. Mr Al Hijri had labelled the HTS government as 'extremists', who he said were not interested in building a civil and pluralistic post-Assad state. A Druze political figure close to Mr Al Hijri said that the authorities have received a 'green light' from Thomas Barrack, the US envoy to Syria, to enter the city. Elsewhere, Mr Barrack has been pushing for an extension of government control over parts of east Syria which are under Kurdish-led forces. In the absence of international protection, the Druze have no option except to lay down their arms, the source said. 'This is Barrack's doing. We are being attacked by than 100,000 regime forces,' he said. Sweida is home to most of Syria's registered 800,000 Druze. But many have emigrated, particularly during the civil war, with an estimated 270,000 Druze still remaining in the city. The Druze, an offshoot of Islam, are also present in Jordan, Israel and Lebanon. In a failed attempt to ward off the government's advance, Israel launched air strikes on southern Syria on Monday after dozens of people were killed in the fightingbetween allies of the Syrian government and Druze fighters. Syria's Sana news agency on Tuesday reported an Israeli strike on the city. About 38 Druze were killed in clashes that started on Sunday. The Defence Ministry said 18 its troops were among the dead, while an estimated 30 government auxiliaries were also killed. Druze sources said pro-Syrian government militias on Sunday launched attacks on the city of Suweida from Sunni areas to its west as the province came under siege by government forces. A war monitor put the total death toll at 89 on Monday. On Sunday, at least one Druze town was seized by militias from neighbouring Deraa, in the worst violence against the Druze community since clashes in April, sources said. Sweida and parts of eastern Syria, where the mostly Kurdish Syrian Democratic Forces are in control, are the only areas where the government does not fully exert control. The leadership of both the Kurds and the Druze have opposed what they describe as HTS's religious agenda under Syria's new President, Ahmad Al Shara. The latest clashes in Sweida started last week after Fadlalah Duwara, a vegetable seller and member of the Druze community, was abducted while driving his lorry on the main road from Sweida to Damascus, which is under government control. His tribe responded by abducting a man in a Sunni neighbourhood of Sweida. The area is inhabited by members of Bedouin tribes who moved to the city decades ago from a rugged region on the outskirts.
MTV Lebanon
3 days ago
- Politics
- MTV Lebanon
13 Jul 2025 11:48 AM Sleiman: State must take Barrack's warning seriously
Former President General Michel Sleiman said in a statement today that the Lebanese state must deal with the warning issued by Thomas Barrack with absolute seriousness, and must take immediate initiative to clarify with the US presidential envoy his recent statements. He added: "If clarifications so require, an active and clear diplomatic approach should be launched in the direction of the Syrian Arab Republic, the Arab League, primarily the Kingdom of Saudi Arabia, and the United Nations, primarily the five permanent members of the Security Council."
