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US government sanctions Lebanese companies

The United States has announced new sanctions targeting several Lebanese companies for their alleged links to Hezbollah.
Among the blacklisted companies is Arch Consulting and Meamar Construction, which has several recycling contracts with the Lebanese government.
In addition, the US government added Hezbollah Executive Council Sultan Khalifa Asaad to its OAFC list of sanctioned individuals.
Prior to today’s announcement, the US also added two former ministers to its blacklist last week.
US Secretary of the Treasury, Steven Mnuchin, justified the sanctions and accused Hezbollah of “exploitation of the Lebanese economy and manipulation of corrupt Lebanese officials”.
The recent move by the US government comes in a time of political turmoil and an economic crisis, which has worsened due to a devastating explosion in the port of Beirut which has caused more than $15 billion in property damage and has resulted in 190 deaths and countless injuries.