The entirety of Hezbollah will be subject to asset freezing in the UK, the Government announced on Friday.
The Treasury said it was now designating the political wing of Hezbollah as a terrorist group under its Terrorism and Terrorist Financing rules, in addition to its millitary wing meaning banks and financial institutions with accounts linked to Hezbollah must be closed.
“Failure to comply with financial sanctions legislation is a criminal offence or to seek to circumvent its provisions is a criminal offence,” it said.
“Following the annual review of the existing designation against Hezbollah Military Wing, the decision was taken to designate the entire organisation under the Terrorist Asset-Freezing Act etc 2010 (TAFA),” a Treasury spokesperson told The National.
“This brings the designation in line with the Home Office proscription of the organisation in 2019. The existing listing of Hezbollah Military Wing is an EU-wide listing. This remains in place and still applies in the UK.”
“The UK remains committed to the stability of Lebanon and the region, and we continue to work closely with our Lebanese partners,” the spokesperson added.
The move comes after the Government proscribed Hezbollah in its entirety last year. Chancellor Sajid Javid, then home secretary, said the UK could no longer distinguish between the organisation’s banned millitary wing and political party.
Over 20,000 CUFI supporters signed a petition calling for the full banning of Hezbollah. CUFI welcomes this necessary move by the UK treasury in the effort to clamp down on the funding of Iranian terror proxies, such as Hezbollah.