A young Hezbollah follower leans toward an image of the group's leader, Hassan Nasrallah.
(photo credit: AFP PHOTO)
WASHINGTON – US President Barack Obama will sign the Hezbollah International Financing Prevention Act of 2015 shortly after it passes in Congress on Wednesday, according to a White House official.
The law would direct the president to prohibit foreign banks from conducting business with Hezbollah, and compel the Treasury Department to either ban or strictly sanction any financial institution that has facilitated transactions with the terrorist group.
The White House worked closely with members of Congress to craft the bill, which earned overwhelming bipartisan support in both houses.
The goal of the new law, according to its summary, is to “prevent Hezbollah’s global logistics and financial network from operating in order to curtail funding of its domestic and international activities,” and to “utilize diplomatic, legislative, and executive avenues to combat Hezbollah’s criminal activities in order to block that organization’s ability to fund its global terrorist activities.”
The measure would also target satellite, broadcast and Internet providers that have entered into contract with Hezbollah’s television station, al-Manar TV, considered a propagandistic tool and separate terrorist organization by the US government.
“The president will sign this bill,” a senior administration official told The Jerusalem Post on Wednesday. “For many years we have worked with Congress to intensify the pressure against the Hezbollah terrorist organization, and we look forward to working closely with them in implementing these new authorities.”