News

World

U.S., Gulf Nations Sanction Iranian Financing Network Over Hezbollah Support

Flag in front of Iran’s Foreign Ministry building in Tehran (Morteza Nikoubazl/Reuters)

The U.S. and six Gulf nations on Wednesday slapped sanctions on businesses and individuals who have expressed support for Iran’s military and the Tehran-backed terrorist group Hezbollah.

The fresh sanctions against a network of 25 corporations, banks, and individuals were designed by the Terrorist Financing Targeting Center, which is co-chaired by the U.S. and Saudi Arabia. Both countries were joined in implementing the new sanctions by Bahrain, Kuwait, Oman, Qatar, and the United Arab Emirates.

The U.S. has designated both Hezbollah and Iran’s Islamic Revolutionary Guard Corps, which the Treasury said recruits child soldiers and tortures those it captures, as terrorist organizations.

Treasury Secretary Steven Mnuchin called the plan to disrupt the financial networks Iran uses to fund terrorism a “powerful demonstration of Gulf unity.”

“We are proud to join forces with our TFTC partners to expose and condemn the Iranian regime’s gross and repeated violations of international norms, from attacking critical oil infrastructure in Saudi Arabia to fomenting strife in neighboring countries through regional proxies such as Hizballah,” Mnuchin added. “This coordinated action is a concrete step towards denying the Iranian regime the ability to undermine the stability of the region.”

The new sanctions come during Mnuchin’s trip to the Middle East, where he plans to work with Palestine, Jordan, Egypt, and Lebanon on an economic development plan.

The move is the latest development in the administration’s “maximum pressure” campaign against Iran, which has crippled the Iranian economy, although banned trade and terror funding continues to flow into the regime through blackmarket channels.

Tensions with Iran have spiked since the Trump administration pulled out of the Obama administration’s Iran nuclear deal in May of last year, and reinstated heavy sanctions on the state terror sponsor. In recent months, the U.S. has placed blame on Iran for attacks on oil tankers in the Gulf of Hormuz as well as the September attack on Saudi Arabian oil facilities.

Most Popular

Culture

‘Epstein Didn’t Kill Himself’

It was just one more segment to fill out the hour, and thereby fill the long 24 hours of Saturday’s cable news on November 2. Or so it seemed. Navy SEAL Mike Ritland was on the Fox News program Watters World to talk to Jesse Watters about trained German shepherds like the one used in the raid that found ... Read More
Film & TV

The Manly Appeal of Ford v Ferrari

There used to be a lot of overlap between what we think of as a Hollywood studio picture (designed to earn money) and an awards movie (designed to fill the trophy case, usually with an accompanying loss of money). Ford v Ferrari is a glorious throwback to the era when big stars did quality movies about actual ... Read More
White House

Impeachment and the Broken Truce

The contradiction at the center of American politics in Anno Domini 2019 is this: The ruling class does not rule. The impeachment dog-and-pony show in Washington this week is not about how Donald Trump has comported himself as president (grotesquely) any more than early convulsions were about refreshed ... Read More
Politics & Policy

ABC Chief Political Analyst: GOP Rep. Stefanik a ‘Perfect Example’ of the Failures of Electing Someone ‘Because They Are a Woman’

Matthew Dowd, chief political analyst for ABC News, suggested that Representative Elise Stefanik (R., N.Y.) was elected due to her gender after taking issue with Stefanik's line of questioning during the first public impeachment hearing on Wednesday. “Elise Stefanik is a perfect example of why just electing ... Read More
U.S.

What Happened to California Republicans?

From 1967 to 2019, Republicans controlled the California governorship for 31 of 52 years. So why is there currently not a single statewide Republican officeholder? California also has a Democratic governor and Democratic supermajorities in both houses of the state legislature. Only seven of California’s 53 ... Read More