18 Hrs
Source:
الشرق اللبنانية
Lebanon faces dollar shortage crisis
The article addresses the financial escalation facing Iran and its allies, particularly Hezbollah, within the context of intensified U.S. sanctions aimed at reducing Iran's financial revenues and exerting pressure on its regional proxies. This includes a reduction in Iranian oil sales to half a million barrels per day and a decline in its oil reserves, as well as sanctions imposed on entities circumventing these measures and restrictions on fund transfers. These actions have begun to impact Hezbollah's financing, which heavily relies on Iranian funds—estimated at around one billion dollars annually before the sanctions. Additionally, unofficial transfers through the black market reached approximately ten billion dollars in 2022, constituting 46% of Lebanon's economy. As the sanctions and economic pressures continue, swift effects are expected to manifest in the Lebanese market, with potential long-term improvements in foreign investments and tourism should Hezbollah's influence diminish and control over financial resources increase.
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