BEIRUT (Dispatches) – The European Union has announced that it has approved a framework for a sanctions mechanism targeting Lebanese individuals and entities.
The move comes as the country has already been grappling with an economic crisis and a political turmoil amid Western interference in the country’s domestic affairs.
The EU claimed in a statement that the framework provides the possibility of imposing sanctions on those responsible for “undermining democracy and the rule of law” in Lebanon.
The sanctions consist of a travel ban to the EU as well as an asset freeze for persons and entities, the statement read, adding that EU persons and entities are forbidden from making funds available to those listed.
The sanctions regime sets out three criteria under which people may be targeted by the 27-nation bloc, including the obstruction of the democratic political process in Lebanon, the undermining of reforms in governance and the financial sector, and serious financial misconduct concerning public funds.
The EU’s measure came a few days after Lebanese billionaire businessman Najib Mikati was appointed as Lebanon’s new prime minister-designate tasked with forming a government and ending a year of political deadlock.
Lebanon has been mired since late 2019 in a deep financial crisis that caused the Lebanese pound losing around 90 percent of its value to the dollar.
In addition to political and financial woes gripping Lebanon, hundreds of individuals and entities have been sanctioned by the U.S.
The U.S. and its European allies have long been seeking to mount pressure on the Lebanese authorities through sanctions in a bid to force the formation of a Western-friendly administration.
French President Emmanuel Macron made uninvited visits to Lebanon and threatened the country’s leaders with bans if they did not submit to “political change.”