Friday, January 8, 2016

US sanctions local firm under new law by congress.

The United States imposed sanctions yesterday on Ali Youssef Charara and his locally-based telecommunications company for providing support to Hezbollah. This is the first such designation made under a law signed by President Barack Obama last month.

Charara is the chairman of Spectrum Investment Group Holding SAL, which was founded in 2003. Charara owns half of the company. The other shareholders are Mohamed Youssef Charara and Ali Ibrahim Charara.

The U.S. Treasury Department sa...

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