Treasury Increases Sanctions on Hizballah and Targets Network Smuggling Millions in Cash for Hizballah

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has announced new sanctions targeting a network used to transport large sums of cash to Hizballah. The Treasury identified ten individuals involved in a scheme that utilizes commercial airline flights to move hundreds of millions of dollars between Iran, the UAE, Türkiye, and Lebanon. This system allows the group to bypass formal banking channels to acquire foreign currency.

The sanctions specifically name Turkish businessman Yunus Alper Yilmaz, who is accused of managing the courier network and using exchange houses in Türkiye as fronts for financial transfers. The Treasury also designated several individuals acting as couriers or logistics coordinators, including Halil Ibrahim Kacmaz, Onder Dede, Vasfi Akyuz, Mehmet Akyuz, Mehmet Acur, Feyyad Karasalih, Masoud Mousafar, Gulay Kaya Savci, and Emrah Ayaz.

In addition to these new designations, the U.S. has re-designated Hizballah for its relationship with the Iranian regime’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF). The Treasury stated that Hizballah is being sanctioned for acting on behalf of the IRGC-QF, citing the latter's role in directing the group's political decisions and military actions.

These enforcement actions were carried out under the authority of Executive Order 13224, which focuses on counterterrorism. Under these regulations, all assets and interests belonging to the designated individuals that are within the United States or under the control of U.S. persons are now blocked. Furthermore, any entities owned 50 percent or more by these blocked individuals are also subject to these restrictions.