Report: Sanctions on Hizbullah Will 'Destroy Lebanon's Economy'

The Congress wants to “deal a blow to the Iranian Republic” through the sanctions it imposed on Lebanon's Hizbullah, which French sources said will “devastate the Lebanese economy,” the pan-Arab daily al-Hayat reported Monday.

“The Congress wants to afflict Iran through Hizbullah, that is why the US State Department has decided to sanction the party,” a French source told the daily on condition on anonymity.

The source pointed out that Paris has told the American side at the level of the administration that “the sanctions will not affect Hizbullah, but it will destroy the Lebanese economy.”

To that the US Administration replied to the French argument allegedly saying that “France is right, but Paris does not know if that is enough to not implement these sanctions,” said the source.

“The Congress has put these sanctions and the US President Donald Trump wants to undermine Iran,” it added.

“Trump, who asked the Europeans to the whole of Hizbullah on the terrorism list, faced their refusal because that is not possible. It means that France and Europe are forced to boycott half of the Lebanese government, which is impractical,” concluded the source.

Hizbullah has been a part of Lebanon's government since November 2005.

On Thursday, the Foreign Affairs Committee of the U.S. House of Representatives, chaired by Republican Representative Ed Royce, passed a bill to further sanction Hizbullah, according to a statement posted on its website.

“Hizbullah and Iran are reportedly introducing game-changing facilities into the region – independent factories that can produce rockets to be used against Israel and our allies. We also have reports of missile factories opening up in Lebanon near mosques, homes, hospitals, and schools,” Royce noted.

“It is clear that Hizbullah intends to increase their exploitation of Lebanese civilians as defenseless human shields. So today the Committee is taking action against Hizbullah and its sponsor Iran, by passing legislation that tightens the screws on Hizbullah’s financial operations globally,” Royce added.

According to Lebanon's MTV, the bill authorizes Trump to freeze the assets of “high-ranking Lebanese political figures who deal with Hizbullah.”

“The first legislation targets Hizbullah's ability to raise funds and deprives it of access to the international financial system and the financial institutions,” MTV said.

“It also increases pressure on Lebanese and foreign banks that deal with Hizbullah and its leadership,” the TV network added.

A second bill slaps sanctions on Hizbullah for “violating human rights in the July 2006 war through using civilians as human shields,” MTV said.