Legislation targeting the financing of Hezbollah was signed into law on Friday afternoon.
The House of Representatives unanimously approved the Hezbollah International Financing Prevention Act of 2015 on Dec. 16, paving the way for President Barack Obama’s signature.
The act directs the president to prohibit foreign banks from doing business with the Shiite militant group. The treasury is compelled to ban or sanction financial institutions that facilitate transactions with Hezbollah, which the United States classifies as a terrorist organization.
The bill, which originated in the House, was approved by the Senate last month. Sens. Marco Rubio (R-Fla.) and Jeanne Shaheen (D-N.H.), and Reps. Ed Royce (R-Calif.) and Eliot Engel (D-N.Y.) authored the original legislation in their respective chambers.
The American Israel Public Affairs committee commended Congress for passing the legislation in a statement.