developing· Security· Updated
Israel Sanctions Lebanese Firm Over Fuel Transfers to Hezbollah
Defense Minister Israel Katz has imposed sanctions on Coral Oil, a UK-registered energy company owned by a Lebanese holding company, for supplying approximately 130,000 liters of fuel to the terrorist organization Hezbollah.
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What happened
- 01Defense Minister Israel Katz approved sanctions against the UK-registered energy company Coral Oil.
- 02Coral Oil supplied approximately 130,000 liters of diesel and gasoline to the Hezbollah-owned fuel company Al-Amana.
- 03The National Bureau for Counter Terror Financing designated Al-Amana as a terrorist organization in 2020.
- 04The Ministry of Defense stated that Hezbollah uses fuel to transport weapons, power generators, and maintain underground facilities.
- 05Coral Oil is owned by the Lebanese holding company A. Yamin Group S.A.L. and controlled by the Yamin family.
- 06The sanctions aim to disrupt Hezbollah's economic supply chains, financial infrastructure, and logistical capabilities.
The sanctions, implemented by the National Bureau for Counter Terror Financing (NBCTF) within the Ministry of Defense, follow the transfer of diesel and gasoline to Al-Amana, a fuel company owned by Hezbollah that Israel designated as a terrorist organization in 2020.
According to the Ministry of Defense, fuel is critical for Hezbollah's operational and logistical needs, including transporting weapons, powering generators, and supporting its underground facilities. The ministry stated that supplying fuel to Hezbollah enhances its operational capabilities and supports its terrorist activities against Israel.
Investigations revealed that Coral Oil is owned by Lebanon's A. Yamin Group S.A.L. and controlled by brothers Oscar, Antonio, and Edgar Yamin. The company operates through a branch in Lebanon and engages in business relationships worth hundreds of millions of dollars within an international network.
Summarized by baba from the reports of 3 newsrooms. Updated
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