Israel announced on Sunday sanctions against three Lebanese companies that allegedly supplied materials to the Lebanese Hezbollah's efforts to manufacture precision missiles.

Israeli Defense Minister Benny Gantz signed an administrative order to seize the assets of three Lebanese companies, Toufali, Moubayed and Barakat, his office said in a statement.

These companies focus on producing machines, oils and ventilation systems required for Hezbollah's production lines, including the precision missiles project, according to the statement.

The order does not have immediate implications but it will allow the international financial system to blacklist the companies, the office said, adding that the order "will make it very difficult for (the companies) to continue operating."

The order is part of the defense minister's efforts to elevate economic pressure on the precision missiles project in Lebanon.

Israel and Hezbollah, two sworn enemies, had their last full-fledged war in 2006 which took place mostly on Lebanese soil.