The US and Qatari governments have imposed sanctions on a Hezbollah financial network based in the Arabian Peninsula.
The actions, announced by the US Treasury Department on Wednesday, mark a rare bilateral US-Qatar move against Hezbollah and target seven people and one entity affiliated with a network that is financing the Lebanese group.
The measures have been placed on citizens of Qatar, Saudi Arabia and Bahrain as well as a Palestinian, the Treasury Department said.
“Hezbollah seeks to abuse the international financial system by developing global networks of financiers to fill its coffers and support its terrorist activity,” Andrea Gacki, the director of the Treasury Department's Office of Foreign Assets Control, said in a statement.
“The cross-border nature of this Hezbollah financial network underscores the importance of our continued co-operation with international partners, such as the government of Qatar, to protect the US and international financial systems from terrorist abuse,” the statement added.
Under the sanctions, Ali Reda Hassan Al Banai, Ali Reda Al Qassabi Lari and Abd Al Muayyid Al Banai were made Specially Designated Global Terrorists “for having materially assisted, sponsored or provided financial, material or technological support for, or goods or services to or in support of, Hezbollah.”
Mr Al Banai and Mr Lari are “long-standing supporters of Hezbollah and have secretly sent tens of millions of dollars to the terrorist organisation through the formal financial system and cash couriers,” the statement read.
Both men regularly travelled to meet Hezbollah officials in Lebanon and Iran, the statement said.
Four other men named by the Treasury Department were also identified as Specially Designated Global Terrorists for helping Mr Al Banai.
Firas Maksad, a senior fellow at the Middle East Institute, saw the announcement as a sign of increased US pressure on Hezbollah under the administration of President Joe Biden.
“This is the second round of US sanctions against Hezbollah's transnational financial network in two weeks and will lead many to deduce that the Biden administration is purposely increasing its pressure on the group and its Iranian sponsor,” Mr Maksad told The National.
On September 17, the US placed sanctions on a Kuwait-based network accused of aiding Hezbollah.
Mr Maksad said the co-ordination with Qatar adds more significance this time, given Doha’s closer relations with Iran among the GCC countries.
“Qatar has historically taken a softer line on Iran, positioning itself as a potential mediator between Tehran and Washington. Its role in uncovering this network is noteworthy, indicating it may be moving closer to the US and GCC consensus on this issue,” Mr Maksad said.
The Hezbollah network spans the Gulf region, with donors based in Kuwait, Bahrain and Saudi Arabia. Its financial and commercial activities also include investments in Turkey.
The sanctions have also been placed on Qatar-based Al Dar Properties “for being owned, controlled, or directed by, directly or indirectly” by one of the seven men named by Treasury.
Also on Wednesday, Bahrain's government announced the freezing of assets of sanctioned people based in its territory.
In a statement, US Secretary of State Antony Blinken stressed the importance of co-ordination in the US-Qatar sanctions.
“This represents one of the most significant joint actions we have taken with a Gulf Cooperation Council (GCC) partner to date and underscores our extensive bilateral co-operation on countering terrorism finance,” Mr Blinken said.
The US urged international action to restrict Hezbollah’s activities.
“There is growing international recognition of Hezbollah’s true nature, with 14 countries in Europe and South and Central America taking significant steps to designate, restrict or ban Hezbollah in the past several years. We urge other governments to follow suit,” Mr Blinken said.
Washington first designated Hezbollah as a foreign terrorist organisation in 1997 and the GCC placed the group on its list of terrorist organisations in 2016.
The 100 Best Novels in Translation
Boyd Tonkin, Galileo Press
UAE currency: the story behind the money in your pockets
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
TV: World Cup Qualifier 2018 matches will be aired on on OSN Sports HD Cricket channel
UAE currency: the story behind the money in your pockets
COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
MATCH INFO
Schalke 0
Werder Bremen 1 (Bittencourt 32')
Man of the match Leonardo Bittencourt (Werder Bremen)
ABU%20DHABI'S%20KEY%20TOURISM%20GOALS%3A%20BY%20THE%20NUMBERS
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LA LIGA FIXTURES
Friday
Granada v Real Betis (9.30pm)
Valencia v Levante (midnight)
Saturday
Espanyol v Alaves (4pm)
Celta Vigo v Villarreal (7pm)
Leganes v Real Valladolid (9.30pm)
Mallorca v Barcelona (midnight)
Sunday
Atletic Bilbao v Atletico Madrid (4pm)
Real Madrid v Eibar (9.30pm)
Real Sociedad v Osasuna (midnight)
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
Financial considerations before buying a property
Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.
“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says.
Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.
Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier.
Global state-owned investor ranking by size
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China
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UAE
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Japan
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Norway
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Canada
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The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
PROFILE OF CURE.FIT
Started: July 2016
Founders: Mukesh Bansal and Ankit Nagori
Based: Bangalore, India
Sector: Health & wellness
Size: 500 employees
Investment: $250 million
Investors: Accel, Oaktree Capital (US); Chiratae Ventures, Epiq Capital, Innoven Capital, Kalaari Capital, Kotak Mahindra Bank, Piramal Group’s Anand Piramal, Pratithi Investment Trust, Ratan Tata (India); and Unilever Ventures (Unilever’s global venture capital arm)
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
FROM%20THE%20ASHES
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The specs
Engine: 2.0-litre 4-cylinder turbo
Power: 240hp at 5,500rpm
Torque: 390Nm at 3,000rpm
Transmission: eight-speed auto
Price: from Dh122,745
On sale: now
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What's in the deal?
Agreement aims to boost trade by £25.5bn a year in the long run, compared with a total of £42.6bn in 2024
India will slash levies on medical devices, machinery, cosmetics, soft drinks and lamb.
India will also cut automotive tariffs to 10% under a quota from over 100% currently.
Indian employees in the UK will receive three years exemption from social security payments
India expects 99% of exports to benefit from zero duty, raising opportunities for textiles, marine products, footwear and jewellery
SPECS
Engine: Two-litre four-cylinder turbo
Power: 235hp
Torque: 350Nm
Transmission: Nine-speed automatic
Price: From Dh167,500 ($45,000)
On sale: Now
Brolliology: A History of the Umbrella in Life and Literature
By Marion Rankine
Melville House
UAE SQUAD
Mohammed Naveed (captain), Mohamed Usman (vice captain), Ashfaq Ahmed, Chirag Suri, Shaiman Anwar, Mohammed Boota, Ghulam Shabber, Imran Haider, Tahir Mughal, Amir Hayat, Zahoor Khan, Qadeer Ahmed, Fahad Nawaz, Abdul Shakoor, Sultan Ahmed, CP Rizwan
Uefa Nations League
League A:
Germany, Portugal, Belgium, Spain, France, England, Switzerland, Italy, Poland, Iceland, Croatia, Netherlands
League B:
Austria, Wales, Russia, Slovakia, Sweden, Ukraine, Republic of Ireland, Bosnia-Herzegovina, Northern Ireland, Denmark, Czech Republic, Turkey
League C:
Hungary, Romania, Scotland, Slovenia, Greece, Serbia, Albania, Norway, Montenegro, Israel, Bulgaria, Finland, Cyprus, Estonia, Lithuania
League D:
Azerbaijan, Macedonia, Belarus, Georgia, Armenia, Latvia, Faroe Islands, Luxembourg, Kazakhstan, Moldova, Liechtenstein, Malta, Andorra, Kosovo, San Marino, Gibraltar
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
Iftar programme at the Sheikh Mohammed Centre for Cultural Understanding
Established in 1998, the Sheikh Mohammed Centre for Cultural Understanding was created with a vision to teach residents about the traditions and customs of the UAE. Its motto is ‘open doors, open minds’. All year-round, visitors can sign up for a traditional Emirati breakfast, lunch or dinner meal, as well as a range of walking tours, including ones to sites such as the Jumeirah Mosque or Al Fahidi Historical Neighbourhood.
Every year during Ramadan, an iftar programme is rolled out. This allows guests to break their fast with the centre’s presenters, visit a nearby mosque and observe their guides while they pray. These events last for about two hours and are open to the public, or can be booked for a private event.
Until the end of Ramadan, the iftar events take place from 7pm until 9pm, from Saturday to Thursday. Advanced booking is required.
For more details, email openminds@cultures.ae or visit www.cultures.ae
COMPANY%20PROFILE
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