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UK Treasury freezes Hezbollah assets
Move comes after group was proscribed as a terror organisation in its entirety
January 20, 2020 09:17
Move comes after group was proscribed as a terror organisation in its entirety
January 20, 2020 09:17The Treasury has frozen all the UK assets of Hezbollah following the government's decision to proscribe the Iran-backed group as a terrorist organisation.
It comes after the government acted last year to desginate the entire group a banned terror outfit. Previously only its supposed "military wing" was banned but the political wing was allowed to operate.
The Treasury noted Hezbollah has "publicly denied a distinction" between the two wings.
The Treasury's order forbids anyone in the UK from providing any kind of financial service to Hezbollah.
A Treasury note said: "Hezbollah itself has publicly denied a distinction between its military and political wings.
“The group in its entirety is assessed to be concerned with terrorism and was proscribed as a terrorist organisation in the UK in March 2019.
“This listing includes the Military Wing, the Jihad Council and all units reporting to it, including the External Security Organisation.”
Board of Deputies Vice President Sheila Gewolb said: “We welcome this important step by the Treasury. Hizballah’s genocidal intentions are clear. Keeping their flags off our streets and their financial assets frozen is vital in making the world a safer place.”
James Sorene, chief executive of the Bicom think tank, said: "HM Treasury’s move to freeze Hezbollah’s assets is a vital step to cut it off from UK financial services and limit the group’s global terrorist activities and involvement in organised crime.
“Alongside the Home Office decision to designate all of Hezbollah as a terrorist organisation last year, the UK government should be applauded for taking tough action to confront Hezbollah in its entirety.”