The U.S. Treasury Department on Thursday blacklisted two Lebanon-based individuals and a company, targeting money laundering network of the militant group Hezbollah.

In a statement, the Treasury Department designated Mohamad Noureddine and Hamdi Zaher El Dine for providing financial services to or in support of Hezbollah. Trade Point International S.A.R.L., which is owned or controlled by Noureddine, was also targeted.

As a result of the action, all assets of those designated that are based in the United States or in the possession or control of U.S. persons are frozen, and U.S. persons are generally prohibited from engaging in transactions with them.

"Hezbollah needs individuals like Mohamad Noureddine and Hamdi Zaher El Dine to launder criminal proceeds for use in terrorism and political destabilization," said Adam Szubin, Acting Under Secretary of the Treasury Department for Terrorism and Financial Intelligence.

"We will continue to target this vulnerability, and expose and disrupt such enablers of terrorism wherever we find them," he said.

Recent Treasury actions have sanctioned nearly 40 individuals and entities associated with Hezbollah's terrorism, criminal, commercial, and procurement activities. In total, Treasury has designated over 100 individuals and entities associated with Hezbollah.

Hezbollah was designated by the U.S. State Department as a terrorist group in October 2001.

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