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Israel Targets Hezbollah Financial Operations Across Lebanon

by Ivy

Israel has escalated its military actions against Hezbollah, launching a series of airstrikes across Lebanon on October 20. The Israeli Defense Forces (IDF) stated that the strikes aimed at branches of the Hezbollah-affiliated financial institution, al-Qard al-Hasan Association. In addition to airstrikes, Israeli troops have conducted localized ground operations in southern Lebanon to eliminate militant threats.

Israeli Foreign Minister Israel Katz declared that Israel will continue its strikes against Hezbollah until the group is dismantled. Following the airstrikes, smoke could be seen rising above the southern suburbs of Beirut as Israel had previously warned residents to distance themselves from al-Qard al-Hasan locations, which operate similarly to traditional banks and are accused of serving as Hezbollah’s financial backbone amidst Lebanon’s economic turmoil.

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The U.S. is actively working to de-escalate the situation in the region, especially as tensions rise following a recent ballistic missile attack attributed to Iran. White House envoy Amos Hochstein visited Lebanon to meet with officials, while Secretary of State Antony Blinken is on a diplomatic trip in the Middle East aimed at negotiating a resolution to the ongoing conflict in Gaza, which has seen significant casualties, including the killing of Hamas leader Yahya Sinwar.

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Key developments include:

  • U.S. Defense Secretary Lloyd Austin announced the deployment of the THAAD air defense system to Israel, stating it could be operational soon.
  • The scope of Israel’s retaliation against Iran is under Israeli discretion, with Austin indicating that efforts are underway to reduce tensions.
  • Hochstein reaffirmed the U.S. commitment to resolving the conflict in Lebanon, emphasizing the enforcement of a 2006 U.N. Security Council resolution to mitigate hostilities between Israel and Hezbollah.

The ongoing conflict has resulted in significant casualties, with at least 42,603 people reported dead in Gaza and 2,483 in Lebanon, according to respective health ministries. Israel estimates around 1,200 fatalities occurred during Hamas’s attack on October 7, 2023, with 356 soldiers reported killed in subsequent military operations in Gaza.

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