US to continue economic pressure on Iran and Hezbollah

US to continue economic pressure on Iran and Hezbollah
The US is to continue its economic pressure on Iran and Hezbollah, the Assistant Secretary for Terrorist Financing Marshall Billingslea said. (File/AFP)
Updated 15 September 2019

US to continue economic pressure on Iran and Hezbollah

US to continue economic pressure on Iran and Hezbollah
  • Treasury’s Billingslea added that the drug trade in South America was financing the terrorist organization
  • Said US Treasury has had no difficulty in convincing Europe that the regime in Iran is corrupt

WASHINGTON: The US is to continue its economic pressure on Iran and its Lebanese proxy Hezbollah, the Assistant Secretary for Terrorist Financing Marshall Billingslea said on Friday.

Speaking at the Atlantic Council, Billingslea added that the drug trade in South America was financing the terrorist organization, and that other sources of funding included money laundering. He also said that South America was starting to turn against Hezbollah, which is backed by Iran.

Billingslea said that the US Treasury will continue to exert economic pressure on Iran and Hezbollah, and that it considers the buying of Iranian oil as funding terrorism.

Due to Iraq’s proximity to Iran, the Iraqi people “ are victims,” Billingslea said. However, any Iraqi party that colludes with Iran’s Revolutionary Guards will have sanctions imposed on it.

He continued by saying that NATO countries supported the US and consider Iran a terrorist state.

The US Treasury has had no difficulty in convincing Europe that the regime in Iran is corrupt and that corruption is widespread, the Assistant Secretary for Terrorist Financing said. He added that the US has informed European countries that dealing with Iran will harm their trade with the country.

Shipping companies must know who they are dealing with, otherwise they will be sanctioned, Billingslea said.