RIYADH: Saudi Arabia on Friday imposed sanctions on three individuals and four companies linked to terror outfit Hezbollah.
The Kingdom froze their assets and prohibited dealings with the three Lebanese nationals and the four firms.
In a statement, the Ministry of Interior named the individuals as Fadi Hussein Sarhan, Adel Moham-med Sheri and Ali Hussein Ze’ater.
The ministry identified the four companies as Vatech Sarl, Le-Hua Electronics Field Co. Ltd, Aero Skyone Co. Ltd. and Labico Sal Offshore,
“The Kingdom will continue its fight against the terrorist activities of the so-called Hezbollah through all available means,” the ministry said adding Saudi Arabia will continue to work with its allies around the world to make it clear that Hezbollah’s militant and extremist activities will not be tolerated by any nation or international organization.
The ministry statement carried by the SPA said as long as Hezbollah continued its activities to spread chaos, instability, terror acts and carried out criminal activities, the Kingdom will continue to designate Hezbollah operatives, leaders and individuals linked to the group as terror entities and impose sanctions on them.
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The ministry advised citizens and residents not to deal with Hezbollah and the above-mentioned individuals and companies.
“Competent authorities shall apply the related Terrorism Crimes and Financing Laws and Regulations against anyone found dealing with the above-mentioned individuals and entities,” the ministry warned.
The ministry also said that those sanctioned are designated under the Saudi Law of Terrorism Crimes and Financing as well as the Royal Decree No. A/44, which target terrorists and their supporters and whoever works with them or on behalf of them.
Any assets of these designated entities are frozen, and Saudi citizens or expatriates in the Kingdom are prohibited from engaging in any transaction with them, the ministry statement added.
The US Treasury Department last year sanctioned Beirut-based Sarhan and his firm Vatech Sarl, along with Sheri, of Shenzhen, China, and his firm Le-Hua Electronic Field Co.
It said they were responsible “for providing material support to enhance the group’s military and terrorist capabilities.”
Sarhan purchased unmanned aerial vehicles, while Sheri facilitated Hezbollah’s efforts to obtain electronics “for transport to Yemen for use in improvised explosive devices by the Houthis,” the US Treasury Department said.
On Tuesday, Riyadh urged Saudi nationals not to travel to Lebanon “for their safety,” after the Kingdom halted a $3 billion program funding French military supplies to Beirut and $1bn for Lebanon’s internal security.
Riyadh cut the aid in response to hostile positions taken by Lebanon at the behest of Hezbollah.
Kingdom extends Hezbollah sanctions
Kingdom extends Hezbollah sanctions
Prince Faisal leads Saudi WEF delegation in Davos, highlights need for global cooperation
- Private sector, govt must work together to ensure long-term prosperity, Kingdom’s FM says
- 56th World Economic Forum annual meeting expected to draw 3,000 participants from almost 130 countries
RIYADH: Saudi Arabia’s participation at the World Economic Forum annual meeting in Davos next week reflects its commitment to strengthening international cooperation to address global economic challenges, while supporting regional stability and sustainable development, the Kingdom’s foreign minister said on Saturday.
In a statement to the Saudi Press Agency, Prince Faisal bin Farhan said Saudi Arabia believes close cooperation between governments and the private sector is essential to achieving sustainable development and long-term prosperity.
He added that the Kingdom will continue expanding cooperation with international partners at WEF and beyond to better confront economic and environmental challenges.
Prince Faisal said the Davos forum provided an important platform to enhance collaboration in areas such as institutional and human capacity-building, innovation, technology and scientific research, in line with the goals of Saudi Vision 2030.
He highlighted the Kingdom’s focus on developing new business models to boost competitiveness and create investment opportunities.
Led by Prince Faisal, a high-level Saudi delegation will attend the forum, which runs from Jan. 19-23 under the theme “A Spirit of Dialogue.”
The delegation includes senior ministers responsible for finance, investment, economy and planning, commerce, tourism, industry and mineral resources, and communications and information technology, as well as Saudi Arabia’s Ambassador to the US, Princess Reema Bandar Al-Saud.
Saudi officials will participate in bilateral meetings and public sessions to share the Kingdom’s experience under Vision 2030 and engage with leaders from government, business, and civil society on global stability and prosperity, SPA added.
Saudi House will also return to Davos in 2026 after its debut last year, hosting more than 20 sessions focused on themes including investment, human capability, quality of life, and global collaboration.
The 56th WEF annual meeting is expected to draw around 3,000 participants from nearly 130 countries, including about 60 heads of state and government.
