On Monday, October 21, the Israeli Defense Forces decrypted intelligence revealed that Hezbollah had hidden $500 million worth of gold and cash in an underground bunker at a hospital in the capital of Lebanon.
Israel expanded its attacks on Hezbollah on Sunday night, targeting financial institutions that provide funding for the militant group.
Adm. Daniel Hagari, spokesperson for the Israeli Defense Forces, stated during a televised briefing that the Israeli Air Force conducted precise strikes on Hezbollah’s financial strongholds.
“Our main target last night was an underground treasury filled with tens of millions of dollars in cash and gold, used to fund Hezbollah’s attacks on Israel,” he said.
Hagari mentioned that there is another separate bunker beneath a hospital in Beirut filled with cash and gold. However, the Israeli Defense Forces did not target this hideout for an attack.
“We estimate that this bunker holds at least $500 million worth of banknotes and gold, which could potentially be used for the reconstruction of Lebanon,” Hagari added.
During the briefing, Hagari presented a map pinpointing the location of the hideout at the Al-Sahel hospital underground in the southern outskirts of Beirut, where Hezbollah is predominantly stationed.
The Israeli military urged Lebanese authorities and international organizations to prevent Hezbollah from using the money for terrorist activities and attacks on Israel, warning that the Israeli Air Force is monitoring the area.
Hagari emphasized that Israel is at war with Hezbollah, not the Lebanese people, and assured that the Israeli Defense Forces will not launch attacks on hospitals.
Earlier on Monday, Lt. Gen. Herzi Halevi, Chief of Staff of the Israeli Defense Forces, stated that over twenty targets related to Hezbollah-affiliated financial company Al-Qard Al-Hassan were attacked.
Al-Qard Al-Hassan is officially registered as a charitable organization that has been providing interest-free loans in exchange for gold deposits to its clients since the 1980s.
Al-Qard Al-Hassan has long been sanctioned by the United States, which views the institution as a shield for Hezbollah, concealing its financial activities and gaining access to the international financial system.
The Israeli Defense Forces spokesperson noted on Monday that in recent years, Lebanon has experienced a severe financial crisis that Hezbollah has exploited. The terrorist group’s main sources of income are from the Lebanese people and the Iranian regime.
Hagari revealed that besides transferring funds to Hezbollah through Syria, such as “flying boxes of cash and gold to the Iranian Embassy in Beirut,” the terrorist organization also “established factories in Syria, Lebanon, Yemen, and Turkey to generate revenue for its terrorist activities.”
Hagari further confirmed that Israel conducted an airstrike in Syria on Monday targeting the financial sector leader of Hezbollah responsible for transporting Iranian cash to their proxies.
The Israeli Defense Forces did not disclose the name of the Hezbollah official but mentioned that he had taken the role just a few weeks after his predecessor was killed.