U.S. Says ‘No’ Sanctions on Lebanon, But on Individuals and Entities

A new batch of U.S. sanctions “doesn’t” target Lebanon or any of the government institutions, but imposes sanctions on parties involved in money laundering or financing terrorism, the Kuwaiti al-Rai newspaper reported on Wednesday.

“There are no U.S. sanctions against Lebanon or the government institutions. Some U.S. sanctions are imposed on a number of individuals or entities accused of money laundering or financing terrorism,” a senior source in the U.S. administration told the daily.

Moreover, a U.S. official said in remarks to al-Rai that the U.S. government “continues” to provide assistance to Lebanon through “various ways.”

“The U.S. government allocates funds close to a quarter of a billion dollars annually to help Lebanon in various ways including financial, direct, and indirect,” he said.

“Blaming the collapse of the Lebanese economy on non-existent U.S. sanctions is a matter of imagination, propaganda and misinformation,” he noted.

On the U.S.’s role in the economic hardships that Lebanon faces, he said that the Lebanese “themselves are responsible for it, mainly parties that prioritize regional wars over economic growth.”

He said investors and capitalist ventures have no favor in investing in war-torn or unstable countries.

“Capital escapes from wars and prefers stability and the rule of law. Lebanon, like Iran or Venezuela, is governed by gangs parallel to the state, and this deprives the country of foreign investment,” he concluded.