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December 17, 2015 10:51 am

Obama to Sign Bill Cutting Off Financing for Hezbollah

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President Barack Obama will sign into law a bill that cuts off financing for Hezbollah. Photo: Wikipedia.

The Hezbollah flag. President Barack Obama will sign a bill cutting off financing for the Lebanon-based terror organization. Photo: Wikipedia. – President Barack Obama will sign into law a bill that cuts off financing for Hezbollah, an Iranian-backed Lebanese terror group.

“The president will sign this bill,” a senior administration official said, the Jerusalem Post reported. “For many years we have worked with Congress to intensify the pressure against the Hezbollah terrorist organization, and we look forward to working closely with them in implementing these new authorities.”

The Hezbollah International Financing Prevention Act of 2015, which was originally co-sponsored by US Sens. Marco Rubio (R-Fla.) and Jeanne Shaheen (D-N.H.), aims to sanction international financial institutions that knowingly engage in business with Hezbollah. The bill passed the House of Representatives and Senate in November.

The bill says it seeks to “prevent Hezbollah’s global logistics and financial network from operating in order to curtail funding of its domestic and international activities,” and to “utilize diplomatic, legislative, and executive avenues to combat Hezbollah’s criminal activities in order to block that organization’s ability to fund its global terrorist activities.”

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