Washington - Sanctions on the Al-Qaeda linked Haqqani network have come into force, following President Barack Obama's approval to declare the terror outfit a 'Foreign Terrorist Organisation'.
Earlier, Secretary of State Hillary Clinton had signed a report saying the outfit met the criteria for a terrorist designation.
The ban would result in freezing assets the group or its members have within the U.S. jurisdictions, while Americans would not be allowed to do business with them, reports The Express Tribune.
The Haqqanis run a sophisticated and diverse financial network comparable to a mafia group, according to a July report by the Centre for Combating Terrorism.
It said the group raised money through kidnapping, extortion and drug trafficking but also had a business portfolio that included import/export, transport, real estate and construction interests in Afghanistan, Pakistan and the Persian Gulf.
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