US freezes funds to Hizbollah

WASHINGTON - The United States froze the US assets of nine people and two businesses in the border area of Brazil, Argentina and Paraguay who Washington said helped funnel millions of dollars to Hizbollah.

The US Government considers the Shiite Muslim militia a terrorist organisation.

The Treasury said the people and businesses raised and transferred cash for Hizbollah through the triple border area between the South American countries, which is home to a large Arab community.

An executive order froze their US assets and banned transactions with US citizens and banks.

"Millions of dollars have been raised and moved by this network," Treasury assistant secretary for terrorist financing Pat O'Brien said. "One of the key ways money has moved is through personal couriers."

- REUTERS