The United States has imposed financial sanctions on an Iranian-based foundation for allegedly providing support to Islamic terrorist organizations.

The U.S. Treasury Department Tuesday accused the Martyrs Foundation of working directly with Lebanon's Shi'ite militant group Hezbollah.

The U.S. said the Martyrs Foundation has channeled financial support to Hezbollah and the Palestinian militant groups Hamas and Palestinian Islamic Jihad.

The department is freezing all the foundation's bank accounts or assets in the U.S. and forbidding Americans from doing business with the group. The action also covers the foundation's U.S. branch, Goodwill Charitable Organization.

The U.S. Treasury Department acted according to an executive order aimed at financially isolating terrorists and their support networks.

The department Tuesday also targeted a Beirut finance firm Al-Qard al-Hassan accused of being a cover for Hezbollah's financial dealings and two Lebanese individuals.