US Sanctions Lebanese Bank for Ties to Hezbollah

The U.S. Treasury Department has sanctioned Lebanese Jammal Trust Bank for "brazenly enabling" the financial activities of Hezbollah, Iran's proxy in Lebanon.

Washington on Thursday accused the bank of "support and services to Hezbollah's Executive Council and the Martyrs Foundation, which funnel money to the families of suicide bombers."

Treasury also targeted individuals in Oman who allegedly act as middlemen to funnel cash from Iran's elite Quds Force to Hamas in Gaza.

The Oman-based financiers "funneled tens of millions of dollars ... to Hamas for terrorist attacks originating from the Gaza Strip," Sigal Mandelker, undersecretary for terrorism and financial intelligence, said in a statement.

The State Department designated Hezbollah a foreign terrorist organization in October 1997.

The sanctions mean the Jammal Trust Bank is no longer allowed to deal with any U.S. citizen or institution, which is likely to severely curtail activities.