As part of the ongoing collaboration between member nations of the Terrorist Financing and Targeting Center (TFTC) in Riyadh, the UAE has imposed economic sanctions against the senior leadership of the Iran-backed Hezbollah’s Shura Council to disrupt the terror group’s and Iran’s support to terrorists or acts of terrorism.
The move comes in line with significant actions taken by the seven member nations of the TFTC to disrupt Iran’s destabilising influence in the region and its funding of armed militias.
Specifically, TFTC seven member states imposed economic sanctions on Hassan Nasrallah, the Secretary General of Hezbollah; Naim Qasim; Muhammad Yazbak; Husayn Al Khalil; and Ibrahim Al Amin Al Sayyid.
In addition, TFTC Member States also designated the following key Hezbollah-affiliated individuals and entities: Talal Hamiyah, Ali Youssef Charara, Spectrum Group, Hasan Ebrahimi, Maher Trading, Hashem Safieddine, Adham Tabaja, Al Inmaa Group, and Al Inmaa Engineering and Contracting, all of whom were previously designated by the US.
This is the second TFTC sanction action since the center was announced on May 21, 2017.
The TFTC is a bold and historic effort to expand and strengthen the seven member states’ cooperation to counter the financing of terrorism. The TFTC facilitates coordinated disruptive actions, sharing of financial intelligence information, and member state capacity-building to target terrorist financing networks and related activities that pose national security threats to TFTC members.