Geagea Slams those 'Attempting to Destabilize Economy because it Abides by Int'l Policies'

Lebanese Forces leader Samir Geagea defended on Friday Central Bank Governor Riad Salameh in wake of the decisions of two Lebanese banks to suspend the accounts of two Hizbullah MPs.

He said in a statement: “Lebanon should be spared from those attempting to destabilize the economy simply because it is committed to international policies.”

“Lebanon's banking sector cannot survive without these policies,” he remarked.

“Some sides cannot simply do what they want with disregard to legitimacy and then ask all the Lebanese people to suffer the responsibilities of their actions,” Geagea continued.

He stressed the need for “wisdom” and for avoiding targeting “the last pillar of our economic fortresses, which is the banking sector, because its destruction will ruin us all.”

The LF chief stated that “everyone can acknowledge that the banking sector in Lebanon has persevered despite all the political upheaval in the past ten years and the credit should mainly be given to the Central Bank governor.”

Industry Minister Hussein al-Hajj Hassan of Hizbullah warned at cabinet on Thursday that “a red line has been crossed” when two Lebanese banks suspended three Hizbullah-linked accounts in conformity with a U.S. sanctions law.

Hizbullah's Loyalty to the Resistance bloc said that U.S. sanctions on banks that knowingly do business with the group could threaten Lebanon's financial sector, hinting that supporters may withdraw their money from local banks.

The bloc said the central bank and private banks would be participating in "a war of exclusion" against the group by upholding the law.

Salameh had said the bank will abide by the restrictions in the Hizbullah International Financing Prevention Act, which was signed into law in December.

M.T.