Thursday, November 7, 2024

Israel Strikes Back: Targeting Hezbollah’s Financial Lifelines

Yonhap News

Israel has escalated its offensive against Hezbollah, declaring plans to target financial institutions linked to the Lebanese militant group to cut off its funding. The Israeli military claims it is intensifying attacks as Hezbollah teeters on the brink of collapse.

According to the Times of Israel, on Sunday, the Israeli military issued evacuation orders for 15 areas associated with Hezbollah in the Bekaa Valley and south of Beirut, the Lebanese capital. The Arabic-language statement instructed civilians to move at least 500 meters away from the designated zones.

Earlier, Israeli military spokesperson Daniel Hagari announced during a briefing, “In the coming hours, we will warn Lebanese residents of Beirut and other regions to evacuate locations involved in funding Hezbollah’s terrorist activities.”

Lebanese media reported that Israel is planning to strike branches of Al-Qard al-Hassan, a financial institution linked to Hezbollah. Under Islamic law, these institutions prohibit charging interest on loans and operate similarly to local banks. The U.S. imposed sanctions on Al-Qard al-Hassan in 2007, claiming it was a front for managing Hezbollah’s financial operations and providing access to the international monetary system. Times of Israel noted that branches of Al-Qard al-Hassan affiliated with Hezbollah are a critical source of the group’s funding.

On the same day, Israeli Defense Minister Yoav Gallant visited troops stationed along the border, stating that Israel is not only defeating the enemy but also dismantling every village Hezbollah planned to use as a base for attacks. He stressed that the ultimate goal is to fully clear Hezbollah-controlled areas, allowing residents in northern Israel to return and rebuild their lives.

Gallant added that Hezbollah prisoners had revealed growing fear within the group’s ranks, asserting that “Hezbollah is collapsing.” Meanwhile, Lebanese state media reported that the Israeli military conducted 14 consecutive airstrikes within a span of 15 minutes on the town of Kiam in southern Lebanon that same day.

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