Overview
- Treasury and State announced new designations on Feb. 10 under Executive Order 13224 targeting Hezbollah-linked financiers and companies.
- Jood SARL, a Lebanon-based gold exchange, was blacklisted for converting Hezbollah’s gold reserves into cash through an Al-Qard Al-Hassan company network.
- U.S. officials identified AQAH officials Mohamed Nayef Maged and Ali Karnib as co-owners and managing partners of Jood SARL.
- Authorities detailed a broader procurement and shipping network operating in the Middle East, including Iran, that trades gold and fertilizer to raise funds.
- Treasury said proceeds support arms purchases, including from Russia, and imposed asset blocks, reporting and 50% ownership rules, with potential criminal penalties for violations.