Feb. 10 (UPI) -- The U.S. Department of the Treasury on Tuesday sanctioned a gold exchange that converts Hezbollah's gold reserves into currency to fund the designated foreign terrorist organization.
Treasury officials also sanctioned an international procurement and commodities shipping scheme created by Hezbollah financiers that are operating throughout the Middle East, including in Iran, officials announced.
"Hezbollah is a threat to peace and stability in the Middle East," said Treasury Secretary Scott Bessent. "Treasury will work to cut these terrorists off from the global financial system to give Lebanon a chance to be peaceful and prosperous again."
The Lebanon-based gold exchange company Jood SARL is sanctioned, which treasury officials said is supervised by officials for Hezbollah's Al-Qard al-Hassan finance wing, also a sanctioned entity.
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