AIPAC applauds the U.S. Senate for adopting last night the Hizballah International Financing Prevention Amendments Act of 2018 (S. 1595), which seeks to cut off the flow of resources to the terrorist group. In September, the House of Representatives adopted this important legislation.
This bipartisan measure is particularly important in light of Hizballah’s destabilizing regional actions and its massive arms build-up in Lebanon. The legislation strengthens and expands the scope of economic and financial sanctions imposed by previous legislation: the Hizballah International Financing Prevention Act of 2015. It targets foreign governments that knowingly provide significant arms, combat or financial support to Hizballah, as well as foreign individuals and companies that aid its fundraising or recruitment activities.
Imposes sanctions on foreign government agencies or instrumentalities that support Hizballah combat operations, or provide significant financial support or arms support to the terror group;
Imposes sanctions on foreign individuals and companies that aid Hizballah’s fundraising or recruitment activities, including the provision of support to its media outlets;
Requires a biennial report on banks that knowingly provide significant assistance to Hizballah and are tied to countries deemed State Sponsors of Terrorism;
Imposes sanctions on Hizballah by reason of its significant transnational criminal activities, including narcotics trafficking;
Mandates a biennial report on jurisdictions outside Lebanon that allow their territory to be used by Hizballah for terrorist activity, including training, financing and recruitment;
Authorizes the president to strengthen oversight procedures for U.S. banks that maintain specific relationships with foreign banks that operate in areas where Hizballah is located; and
Mandates a report on estimated net worth of senior Hizballah members, including any senior foreign political figures of the terrorist group.
AIPAC appreciates the leadership of the authors of this important legislation, Sens. Marco Rubio (R-FL) and Jeanne Shaheen (D-NH) and Reps. Ed Royce (R-CA) and Eliot Engel (D-NY).
Type: Press Release