Hezbollah parliamentary bloc, Loyalty to Resistance, denounced the Lebanese banks’ commitment to a US anti-Hezbollah law, stressing that such move is violation to Lebanon’s sovereignty.

Hezbollah parliamentary bloc, Loyalty to Resistance, denounced the Lebanese banks’ commitment to a US anti-Hezbollah law, stressing that such move is violation to Lebanon’s sovereignty.

Ina statement, the bloc said the recently implemented US law, which the Lebanese banks abide by, is completely rejected because it amounts to a “local war of exclusion.”  

It stressed that US law, which imposes sanctions on banks that knowingly do business with Hezbollah, is a breach to Lebanon’s monetary sovereignty.

“Decisions recently announced by Central Bank governor Riad Salameh that abides by the US lawn is unjustified submission to the mandatory power on our country,” Loyalty to Resistance bloc said in the statement.

Meanwhile, the bloc warned that the law could threaten Lebanon's financial sector, hinting that supporters may withdraw their money from local banks.

“The decision to abide by the US law could make the monetary crisis in Lebanon worse as it could drive Lebanon towards bankruptcy because of the wide boycotts by the Lebanese and banks, something which will lead to monetary collapse and chaos.”

The bloc also called on Salemeh to review the decision to abide by the US law in a bid to preserve the national sovereignty, as it urged the Lebanese government to take the appropriate decisions in order to deal with the repercussions of the Central Bank move.

Salameh has said the Central Bank will abide by the restrictions in the Hezbollah International Financing Prevention Act, which was signed into law in December.

The US regulations say Washington will target those "knowingly facilitating a significant transaction or transactions for" Hezbollah or any individual, business or institution linked to the group.

Those under sanctions include Hezbollah Secretary General Sayyed Hasan Nasrallah and top commander Mustafa Badreddine as well as some businessmen. The list also includes al-Manar TV and al-Nour Radio.