The U.S. Treasury on Thursday imposed sanctions on two top Lebanese contractors and a lawmaker close to the Hezbollah movement over alleged large-scale corruption that undermined the rule of law in Lebanon.

Businessmen Jihad al-Arab and Dany Khoury, close to former Lebanese Prime Minister Saad al-Hariri and Christian politician Gebran Bassil respectively, were sanctioned for alleged corruption related to state contracts.

Lawmaker Jamil Sayyed was sanctioned for allegedly seeking to "skirt domestic banking policies and regulations" and transfer $120 million abroad, "presumably to enrich himself and his associates," a Treasury statement said.