https://www.jns.org/trump-white-house-affords-chance-to-confront-lebanese-terror-bank/
President-elect Donald Trump’s electoral victory offers a golden opportunity to shut down a Lebanese bank, one critical to Iran and Hezbollah, that has so far escaped sanctions even as it serves as one of the main conduits of terror financing, observers tell JNS.
While numerous Lebanese banks and individuals have been slapped with sanctions by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC), the Middle East & Africa Bank (MEAB), the 15th largest by deposits in Lebanon, has fallen through the cracks.
In 2019, MEAB bank was named as a defendant in a case, still ongoing, in the U.S. District Court of the Eastern District of New York, brought by American citizens and the families of American citizens who were killed or injured in Iraq between 2004 and 2011 in attacks orchestrated by Hezbollah in coordination with other terrorist groups.
In 2006, MEAB Bank’s offices were targeted by Israeli fighter jets after a fundraising appeal aired on Hezbollah’s Al-Manar television station asking that donations for the terrorist group be sent to a specific account at the bank.
Haig Melkessetian, a former intelligence operative for the U.S. Defense and State departments, has investigated MEAB extensively. He told JNS that the reason MEAB has evaded sanctions is that it has friends in high places.
In January 2015, during the Iran nuclear talks, Mohammad Zarif, the Islamic Republic’s foreign minister at the time, asked then-U.S. Secretary of State John Kerry “to go easy on MEAB,” in other words, that it be kept off the OFAC sanctions list, Melkessetian said.
David Wurmser, a senior analyst at the Washington-based Center for Security Policy, who has researched the bank and the Shi’ite clan behind it, told JNS, “It’s very clear that the Iranians were out to preserve their core structures, and this bank really lies at the center of the global reach of Hezbollah, and through Hezbollah, the global reach of Iran.”