Baghdad, July 15, (dpa/GNA) – Iraqi authorities, instructed banks and financial institutions to implement new US sanctions against alleged support networks of Lebanon’s Iran-backed Hezbollah and the Islamic State terrorist organization, an Iraqi government official said on Wednesday.
The measures aim to prevent sanctioned individuals and organizations from accessing Iraq’s financial system, and are related to sanctions issued by the US Treasury Department.
Zafer Mahdi Abdullah, head of the Iraqi Fund for External Development, said the US Treasury had sanctioned three individuals and six entities in Europe, the Middle East and West Africa, for allegedly facilitating financial transfers benefiting Islamic State networks and entities linked to Hezbollah.
The move came, a day after Iraqi Prime Minister, Ali al-Zaidi, met US President Donald Trump in Washington, and comes as Iraq seeks to strengthen oversight of its financial system, and prevent its financial institutions from being used by sanctioned groups and their affiliates.
US authorities have repeatedly accused Hezbollah-linked networks of exploiting Iraq’s financial and trade sectors, to move funds across the region and evade international sanctions.
The latest measures come amid broader efforts by the Iraqi government to bring armed groups under state control. Iran-backed militias in Iraq hold significant political and military influence, and any attempt to restrict their activities or disarm them remains a major challenge for the authorities.
Iraqi officials did not provide details on the specific Hezbollah-linked entities targeted or the immediate measures required from financial institutions.
GNA