Obama to sign bill targeting Hezbollah financing

The White House worked closely with members of Congress to craft the bill, which earned overwhelming bipartisan support in both houses.

By
December 16, 2015 21:28
1 minute read.
A young Hezbollah follower leans toward an image of the group's leader, Hassan Nasrallah

A young Hezbollah follower leans toward an image of the group's leader, Hassan Nasrallah. (photo credit: AFP PHOTO)

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later

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.

Be the first to know - Join our Facebook page.


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.”

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

Energy Minister Yuval Steinitz at the Maariv Leaders Conference
October 15, 2018
Steinitz: Military action in Gaza would be the 'Mahmoud Abbas War'

By EYTAN HALON