Escalation of Conflict: Israeli Strikes Target Hezbollah Financial Institutions
In a significant escalation of hostilities, Israel’s military has intensified its airstrikes across Lebanon, specifically targeting financial institutions believed to be supporting the militant group Hezbollah. The Israel Defense Forces (IDF) have issued urgent evacuation warnings for 24 distinct areas, including 14 neighborhoods in the capital city, Beirut, indicating that further strikes are anticipated throughout the night.
Daniel Hagari, spokesperson for the IDF, stated, “We will be attacking a large number of targets in the next few hours and will continue to do so later tonight. In the coming days, we will disclose how Iran finances Hezbollah’s terrorist activities, utilizing civil institutions, associations, and NGOs as a facade for these operations. Our attacks will occur during the night, and we will provide updates on the outcomes in the months to follow.”
A senior Israeli intelligence official, who chose to remain anonymous, revealed that the primary focus of these strikes is the banking system operated by Hezbollah, specifically targeting al-Qard al-Hassan. This registered non-profit organization, which has been sanctioned by both the United States and Saudi Arabia, offers cash-based financial services and is relied upon by hundreds of thousands of Lebanese citizens.
In response to the Israeli military actions, al-Qard al-Hassan released a statement asserting that the decision to target them reflects Israel’s “bankruptcy” and reassured its customers that measures have been implemented to safeguard their funds.
- Witnesses reported a mass exodus of residents from Beirut following the IDF’s evacuation orders, as explosions echoed throughout the city.
- Chaos ensued as panicked crowds filled the streets, resulting in severe traffic congestion in various parts of the city.
On October 20, 2024, flames and smoke were seen rising from an Israeli airstrike in the southern suburbs of Beirut. This latest wave of strikes comes just a day after US Defense Secretary Lloyd Austin remarked that civilian casualties in Lebanon have reached an unacceptable level, stating they are “far too high.” According to health authorities in Lebanon, over 1,700 individuals have lost their lives due to Israeli strikes in recent weeks, with approximately a quarter of those casualties being women and children.
The region has witnessed a year of rising tensions and frequent cross-border exchanges between Israel and Hezbollah, particularly exacerbated by the ongoing conflict in Gaza. This escalated into full-scale warfare last month, with Israel commencing what it termed a ‘targeted’ ground operation in Lebanon at the end of September, deploying as many as 15,000 troops into the region.
Meanwhile, the IDF has reported that Hezbollah launched over 170 rockets into Israeli territory on Sunday, resulting in minor injuries to three individuals due to a fire ignited by a strike in the northern city of Safed.
In the midst of the conflict, Lebanon’s military has largely refrained from direct involvement. While it remains a respected institution within the country, it lacks the power to exert control over the Iran-backed Hezbollah or effectively defend Lebanon against Israeli incursions.
Furthermore, the United States is reportedly investigating an unauthorized leak of classified documents that suggest Israel was mobilizing military assets in preparation for a strike in retaliation for Iran’s missile attack on October 1, according to three anonymous US officials. Iran is recognized as one of Hezbollah’s principal financial backers and also extends support to the ideologically aligned militant group Hamas operating in Gaza.
