UK sanctions Lebanon art dealer accused of financing Hezbollah
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Loading... - Jerry Taylor
- 20 Apr 2023
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Already sanctioned by the United States back in 2019, Lebanese art dealer Nazem Said Ahmad was sanctioned by the British government on Tuesday.
The United States and United Kingdom took action on Tuesday against a Lebanese businessman and art dealer Nazem Said Ahmad, who is suspected of helping finance Hezbollah operations.
The British government ordered a freeze on all Ahmed's assets and banned doing business with him. An hour after the British announcement, American authorities charged Ahmad with evading similar US sanctions imposed in 2019. US prosecutors said Ahmad had exported hundreds of millions of dollars worth of diamonds and artwork in spite of the legal measures.
The British government announced it was imposing sanctions on Ahmad, also a diamond dealer, under its counter-terrorism sanctions regime. Ahmad, a noted art collector, does business with British artists, galleries and auction houses. As British citizens are no longer allowed to do business with Ahmad or any of the companies he owns or operates, several of which are listed specifically in the law. Ahmad will no longer be able to trade in the UK art market and no other art dealers will be able to do business with him or his companies, including ones based in Beirut.
A statement issued by the British government noted that Ahmad has been sanctioned in the interest of national security. It read, "The move will also protect the integrity of the UK economy from terrorist financing threats.” The statement notes the move is “the first use of the Treasury-led domestic counter terrorism regime, which is used to target those who HM Treasury has reasonable grounds to suspect are involved in terrorist activity.” Read More…
