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Hezbollah’s finances dry up as cash sources cut
Hezbollah is running out of money, as three of its main sources of cash dry up, the Voice of America (VOA) reported on Friday.
The Iranian terrorist proxy relies on three key funding channels: Al-Qard al Hasan, or AQAH, a Hezbollah-owned quasi-bank operating without a government banking license; Licensed Lebanese commercial banks: and cash from Iran, Researchers told the broadcaster.
Israel targeted AQAH in its initial airstrikes during the current campaign in Lebanon. They hit Hezbollah’s “cash storage centers, including a large part of the AQAH vaults,” leaving the group in a “financial crisis,” VOA reported, quoting a Sept. 30 report by Murr Television, aka MTV Lebanon.
Hilal Khashan, a political science professor at the American University of Beirut, also told the VOA that Israel “destroyed” most of AQAH’s branches.
“Hezbollah is facing a very serious financial problem. They are unable to pay rank and file members who have fled their homes and need to feed their families,” Khashan said.
The Meir Amit Intelligence and Terrorism Information Center (ITIC), a group of Israeli intelligence veterans, describes Al-Qard al-Hasan (“The Benevolent Loan”), as an institution that mainly provides interest-free loans to the Shi’ite community in Lebanon.
The main idea is to support Shi’ite society so that it in turn will support Hezbollah, becoming a “resistance society,” ITIC explained.
The U.S. Treasury Department sanctioned AQAH in 2007 and individuals associated with it in proceeding years. The sanctions did not, however, affect the number of loans provided by the organization, which continued to grow, ITIC said.
David Asher, a former U.S. Defense and State Department official who focused on Hezbollah’s drug trafficking and money laundering operations, told VOA that the group is in “deep trouble” as it is also losing access to Lebanese banking.
“I’m hearing from Lebanese bankers, including Hezbollah financiers, that Lebanon’s wealthiest bankers who can afford to fly have fled to Europe and the Gulf, fearing they could be targeted next by Israel for helping Hezbollah,” Asher said, now a senior fellow at the Washington-based Hudson Institute.
“These Lebanese bankers, most of them billionaires, see the wind is blowing against Hezbollah, so they are not going to let it take millions of dollars out of their banks, which still have cash despite being bankrupt on paper,” Asher said. “They know that if they do, Israel probably will eliminate them, too.”
Another Hezbollah funding source is cash delivered by plane from Iran. It, too, is drying up.
On Sept. 27, Israel warned it would not allow hostile flights carrying weapons to land at Beirut’s airport. The next day, an Iranian flight from Tehran made a U-turn over Iraqi airspace.
Lebanon’s Transport Ministry said it had ordered the Iranian plane to turn around after an Israeli threat that it would use force against Beirut’s air traffic control tower if the plane attempted to land.
“I’ve heard from my Israeli counterparts that the Iranians are scared to send money to Lebanon right now because Israel is threatening to target flights into Beirut. The Israelis are warning they will target flights full of money, not just weapons,” Asher said.
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Exclusive: Israeli Officials Harshly Critical of Steve Witkoff’s Influence on US Policy on Gaza, Iran, i24NEWS Told
US Middle East envoy Steve Witkoff, Washington, DC, Jan. 20, 2025. Photo: REUTERS/Carlos Barria
i24 News – Amid growing disagreements with the Trump administration over the composition of the Board of Peace for Gaza and the question of a strike on Iran, officials in Israel point to a key figure behind decisions seen as running counter to Israeli interests: Special Envoy Steve Witkoff.
The officials mention sustained dissatisfaction with Witkoff. Sources close to the PM Netanyahu told i24NEWS on Saturday evening: “For several months now, the feeling has been that envoy Steve Witkoff has strong ties, for his own reasons, across the Middle East, and that at times the Israeli interest does not truly prevail in his decision-making.”
This criticism relates both to the proposed inclusion of Turkey and Qatar in Gaza’s governing bodies and to the Iranian threat. A senior Israeli official put it bluntly: “If it turns out that he is among those blocking a strike on Iran, that is far more than a coincidence.”
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EU Warns of Downward Spiral After Trump Threatens Tariffs Over Greenland
European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium, on June 17, 2022. Photo: Reuters/Yves Herman
European Union leaders on Saturday warned of a “dangerous downward spiral” over US President Donald Trump‘s vow to implement increasing tariffs on European allies until the US is allowed to buy Greenland.
“Tariffs would undermine transatlantic relations and risk a dangerous downward spiral. Europe will remain united, coordinated, and committed to upholding its sovereignty,” European Commission President Ursula von der Leyen and EU Council President Antonio Costa said in posts on X.
The bloc’s top diplomat Kaja Kallas said tariffs would hurt prosperity on both sides of the Atlantic, while distracting the EU from its “core task” of ending Russia’s war in Ukraine.
“China and Russia must be having a field day. They are the ones who benefit from divisions among allies,” Kallas said on X.
“Tariffs risk making Europe and the United States poorer and undermine our shared prosperity. If Greenland’s security is at risk, we can address this inside NATO.”
Ambassadors from the European Union’s 27 countries will convene on Sunday for an emergency meeting to discuss their response to the tariff threat.
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Israel Says US Gaza Executive Board Composition Against Its Policy
FILE PHOTO: Displaced Palestinians shelter at a tent camp in Khan Younis, southern Gaza Strip, January 14, 2026. REUTERS/Haseeb Alwazeer/File Photo
Prime Minister Benjamin Netanyahu’s office said on Saturday that this week’s Trump administration announcement on the composition of a Gaza executive board was not coordinated with Israel and ran counter to government policy.
It said Foreign Minister Gideon Saar would raise the issue with US Secretary of State Marco Rubio.
The statement did not specify what part of the board’s composition contradicted Israeli policy. An Israeli government spokesperson declined to comment.
The board, unveiled by the White House on Friday, includes Turkish Foreign Minister Hakan Fidan. Israel has repeatedly opposed any Turkish role in Gaza.
Other members of the executive board include Sigrid Kaag, the U.N. special coordinator for the Middle East peace process; an Israeli‑Cypriot billionaire; and a minister from the United Arab Emirates, which established relations with Israel in 2020.
Washington this week also announced the start of the second phase of President Donald Trump’s plan, announced in September, to end the war in Gaza. This includes creating a transitional technocratic Palestinian administration in the enclave.
The first members of the so-called Board of Peace – to be chaired by Trump and tasked with supervising Gaza’s temporary governance – were also named. Members include Rubio, billionaire developer Steve Witkoff and Trump’s son-in-law Jared Kushner.