ISTANBUL

The US Treasury Department announced Tuesday it imposed sanctions on several individuals and associated entities allegedly for facilitating financial activities for Hezbollah.

At the center of the sanctions is a Lebanese money exchanger, Hassan Moukalled, a money service business he owns called CTEX Exchange, and two of his sons.

"Hassan Moukalled, a Lebanon-based economist, has worked in close coordination with senior Hizballah financial officials to help Hizballah establish a presence in Lebanon’s financial system. He serves as a financial advisor to Hizballah and carries out business deals on behalf of the group throughout the region," the department said in a statement.

Sanctions also include two additional companies that are owned or controlled by Moukalled -- Lebanese Company for Information and Studies (LCIS) that he is the editor-in-chief for and Lebanese Company for Publishing, Media, and Research and Studies (LCPMR) that he is the director of.

The Treasury Department said Moukalled also serves as the chief economic editor of several websites associated with LCIS, while LCPMR is co-located with LCIS.