Saudi Press

Saudi Arabia and the world
Wednesday, Jun 04, 2025

Washington Denies Imposing Sanctions on Lebanon’s Central Bank Governor

Washington Denies Imposing Sanctions on Lebanon’s Central Bank Governor

The US State Department denied on Saturday that it was considering imposing sanctions on Lebanon’s central bank governor Riad Salameh.
“We have seen these rumors, and while we generally are not discussing any possible sanctions, I can confirm that these rumors are not based on facts,” a US State Department spokesperson said, in an email to Asharq Al-Awsat.

News emerged in Lebanon about the possibility of the US Treasury Department imposing sanctions on Salameh for his involvement in “covering Hezbollah's financial activities.”

While the State Department slammed these rumors as inaccurate, US sources said that issuing this type of decision is completely unlikely, at least at this stage, regardless of whether the accusations were true or false.

US officials reportedly said that dealing with Salameh cannot be isolated from addressing the overall crisis in Lebanon.

Lebanon still needs to elect a new president, reconfigure its political powers, and develop economic, financial, and monetary reforms to curb the decay of its financial and banking systems.

The officials added that Hezbollah’s exploitation of the Lebanese banking system to launder its money is a well-known matter and that US administrations, both Republican and Democratic, have always tried to put an end to it.

Hezbollah claims that it has succeeded in establishing its own banking and monetary system away from the Lebanese banking system, but reality begs to differ. The Iran-backed group’s claims are chiefly geared towards dodging US sanctions.

No matter how successful Hezbollah is in establishing a wide network of “money changers” and claiming that it is the party bringing dollars into the country, in the end it cannot dispense with the Lebanese banking system to launder its money.

For the time being, many are awaiting a new equation to be introduced considering regional and international movements attempting to address the dire Lebanese banking and monetary situation.

Observers are talking about acquisitions and mergers of major Lebanese banks, funded by some Gulf countries.

On the other hand, some believe that what is happening now is nothing less than a revision of the entire economic and political system that has governed the country since its founding. This system is based on a partnership between the traditional political class and the service-financial bourgeoisie.

Some are ruling out the US government issuing sanctions against Salameh, because doing so would destroy the credibility and legitimacy of any Lebanese banking institution, especially at a time when Washington is trying to maintain a minimum level of continuity of government institutions before any new settlement matures.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Global News Roundup: From Ukraine's strategic military strikes and Russia's demands and Tensions Escalate in Ukraine, to serious legal issues faced by Britons in Bali and Trump's media criticism, the latest developments highlight a turbulent landscape
U.S. Reduces Military Presence in Syria
Trump Demands Iran End All Uranium Enrichment in Nuclear Talks
Iran Warns Europe Against Politicizing UN Nuclear Report
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
UAE Offers Free ChatGPT Plus Subscriptions to Citizens
Lebanon Initiates Plan to Disarm Palestinian Factions
Iran and U.S. Make Limited Progress in Nuclear Talks
The Daily Debate: The Fall of the Dollar — Strategic Reset or Economic Self-Destruction?
Trump Administration's Tariff Policies and Dollar Strategy Spark Global Economic Debate
OpenAI Acquires Jony Ive’s Startup for $6.5 Billion to Build a Revolutionary “Third Core Device”
Turkey Weighs Citizens in Public as Erdoğan Launches National Slimming Campaign
Saudi-Spanish Business Forum Commences in Riyadh
Saudi Arabia and Spain Sign MoU to Boost SME Sectors
UK Suspends Trade Talks with Israel Amid Gaza Offensive
Iran and U.S. Set for Fifth Round of Nuclear Talks Amid Rising Tensions
Russia Expands Military Presence Near Finland Amid Rising Tensions
Indian Scholar Arrested in Crackdown Over Pakistan Conflict Commentary
Israel Eases Gaza Blockade Amid Internal Dispute Over Military Strategy
President Biden’s announcement of advanced prostate cancer sparked public sympathy—but behind closed doors, Democrats are in panic
A Chinese company made solar tiles that look way nicer than regular panels!
Indian jet shootdown: the all-robot legion behind China’s PL-15E missiles
The Chinese Dragon: The True Winner in the India-Pakistan Clash
Australia's Venomous Creatures Contribute to Life-Saving Antivenom Programme
The Spanish Were Right: Long Working Hours Harm Brain Function
Did Former FBI Director Call for Violence Against Trump? Instagram Post Sparks Uproar
US and UAE Partner to Develop Massive AI Data Center Complex
Apple's $95 Million Siri Settlement: Eligible Users Have Until July 2 to File Claims
US and UAE Reach Preliminary Agreement on Nvidia AI Chip Imports
President Trump and Elon Musk Welcomed by Emir of Qatar Sheikh Tamim with Cybertruck Convoy
Strong Warning Issued: Do Not Use General Chatbots for Medical, Legal, or Educational Guidance
Saudi Arabia Emerges as Global Tech Magnet with U.S. Backing and Trump’s Visit
This was President's departure from Saudi Arabia. The Crown Prince personally escorted him back to the airport.
NVIDIA and Saudi Arabia Launch Strategic Partnership to Establish AI Centers
Trump Meets Syrian President Ahmad al-Shara in Historic Encounter
Trump takes a blow torch to the neocons and interventionists while speaking to the Saudis
US and Saudi Arabia Sign Landmark Agreements Across Multiple Sectors
×