Western Diplomat to Asharq Al-Awsat: Lebanon Faces ‘Existential Threat’

A man works in a jewelry store where an Arabic sign reads, "We buy gold and pay in dollars," in Beirut, Lebanon, Monday, July 6, 2020. (AP Photo/Hussein Malla)
A man works in a jewelry store where an Arabic sign reads, "We buy gold and pay in dollars," in Beirut, Lebanon, Monday, July 6, 2020. (AP Photo/Hussein Malla)
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Western Diplomat to Asharq Al-Awsat: Lebanon Faces ‘Existential Threat’

A man works in a jewelry store where an Arabic sign reads, "We buy gold and pay in dollars," in Beirut, Lebanon, Monday, July 6, 2020. (AP Photo/Hussein Malla)
A man works in a jewelry store where an Arabic sign reads, "We buy gold and pay in dollars," in Beirut, Lebanon, Monday, July 6, 2020. (AP Photo/Hussein Malla)

Lebanon faces an “existential threat” over its economic and financial crisis, European diplomats in New York and Washington have warned.

“Lebanon is so dear to our hearts,” one diplomat told Asharq Al-Awsat in remarks published on Saturday.

European countries have strong historic relations with it, he said.

But “the ball is now in Lebanon’s court,” said the diplomat about the country’s need to enact reforms if it needs external funding, which includes pledges made by donors at the CEDRE conference in Paris in 2018.

Lebanon is mired in its worst ever economic crisis, marked by an unprecedented plunge of its currency. The financial meltdown has thrown its people into a frantic search for dollars.

Asked about UN peacekeepers south of the Litani river, the diplomat revealed that discussions are underway to extend the mandate of the United Nations Interim Force in Lebanon (UNIFIL) for another year.

On US efforts to change UNIFIL’s rules of engagement, he said: “Some of our partners want to make it more active in relation to Hezbollah and other actors.”

“But I don’t think we will do that,” he said. “We will inform our partners (the US) that if they were unhappy with the French, Spanish and Italians missions (operating within UNIFIL), then come and do it yourselves.”

UNIFIL is a peacekeeping operation rather than an enforcement mission, said the diplomat.

Set up in 1978, UNIFIL was beefed up after a month-long war between Israel and Hezbollah in 2006 and tasked with guaranteeing a ceasefire and Israeli withdrawal from a demilitarized zone on the border.



Türkiye, Hamas Discuss Gaza Ceasefire Deal’s Second Phase, Turkish Source Says

Palestinian children play next to tents in a makeshift camp for displaced people set up on the beach in Gaza City, Tuesday, Dec. 16, 2025. (AP)
Palestinian children play next to tents in a makeshift camp for displaced people set up on the beach in Gaza City, Tuesday, Dec. 16, 2025. (AP)
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Türkiye, Hamas Discuss Gaza Ceasefire Deal’s Second Phase, Turkish Source Says

Palestinian children play next to tents in a makeshift camp for displaced people set up on the beach in Gaza City, Tuesday, Dec. 16, 2025. (AP)
Palestinian children play next to tents in a makeshift camp for displaced people set up on the beach in Gaza City, Tuesday, Dec. 16, 2025. (AP)

Turkish Foreign Minister Hakan Fidan on Wednesday ​met with Hamas political bureau officials in Ankara to discuss the ceasefire in Gaza and advancing the ‌agreement to ‌its ‌second ⁠phase, ​a ‌Turkish Foreign Ministry source said according to Reuters.

The source said the Hamas officials told Fidan that they had fulfilled ⁠their requirements as ‌part of the ‍ceasefire ‍deal, but that Israel's ‍continued targeting of Gaza aimed to prevent the agreement from ​moving to the next phase.

The Hamas members ⁠also said humanitarian aid entering Gaza was not sufficient, and that goods like medication, equipment for housing, and fuel were needed, the source ‌added.


Israel Says It Killed Hamas Financial Officer in Gaza

Buildings destroyed during Israeli ground and air operations stand in the Gaza Strip, as seen from southern Israel, Thursday, Dec. 18, 2025. (AP)
Buildings destroyed during Israeli ground and air operations stand in the Gaza Strip, as seen from southern Israel, Thursday, Dec. 18, 2025. (AP)
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Israel Says It Killed Hamas Financial Officer in Gaza

Buildings destroyed during Israeli ground and air operations stand in the Gaza Strip, as seen from southern Israel, Thursday, Dec. 18, 2025. (AP)
Buildings destroyed during Israeli ground and air operations stand in the Gaza Strip, as seen from southern Israel, Thursday, Dec. 18, 2025. (AP)

The Israeli army said Wednesday that it had identified a Hamas financial official it killed two weeks ago in a strike in the Gaza Strip.

Abdel Hay Zaqut, a financial official in Hamas's armed wing, on December 13 in the same strike that killed military commander Raed Saad, seen by Israel as one of the architects of Hamas's October 7, 2023 attack.

The Israeli army's Arabic-language spokesperson, Avichay Adraee, said on Wednesday that Zaqut was killed while he was in a vehicle alongside Raed Saad in "a joint operation by the Israeli army and the Shin Bet", Israel's internal security agency.

Zaqut "belonged to the financial department of the armed wing" of Hamas, Adraee wrote on X.

"Over the past year, Zaqut was responsible for collecting and transferring tens of millions of dollars to Hamas's armed wing with the aim of continuing the fight against the State of Israel," he said.

Hamas's leader for the Gaza Strip, Khalil al-Hayya, confirmed on December 14 the death of Saad and "his companions", though he did not name Zaqut.

The Israeli army said Saad headed the weapons production headquarters of Hamas's military wing and oversaw the group's build-up of capabilities.

Since October 10, a fragile truce has been in force in the Gaza Strip, although Israel and Hamas accuse each other of violations.

The war began with Hamas's 2023 attack on Israel, which resulted in the deaths of more than 1,200 people, most of them civilians, according to an AFP tally based on official figures.

Israel's retaliatory campaign has killed more than 70,000 people in the Gaza Strip, according to the health ministry in the Hamas-run territory, a figure the UN deems is credible.


Lebanon Central Bank Governor Expresses Reservations Over Draft Law on Deposit Recovery

 Lebanese Prime Minister Nawaf Salam heads a cabinet meeting in Beirut, Lebanon December 23, 2025. (Reuters)
Lebanese Prime Minister Nawaf Salam heads a cabinet meeting in Beirut, Lebanon December 23, 2025. (Reuters)
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Lebanon Central Bank Governor Expresses Reservations Over Draft Law on Deposit Recovery

 Lebanese Prime Minister Nawaf Salam heads a cabinet meeting in Beirut, Lebanon December 23, 2025. (Reuters)
Lebanese Prime Minister Nawaf Salam heads a cabinet meeting in Beirut, Lebanon December 23, 2025. (Reuters)

Lebanon’s Central Bank governor has expressed some reservations over a draft law allowing depositors to gradually recover funds ​frozen in the banking system since a financial collapse in 2019, a move critical to reviving the economy.

Karim Souaid described the proposed timetable for the cash component of deposit repayments as "somewhat ambitious" in a statement on Tuesday.

He suggested ‌it may ‌be adjusted without hindering ‌the depositors' ⁠rights ​guarantee "regular, ‌uninterrupted, and complete payments over time".

He also urged the cabinet to conduct a careful review of the draft law , calling for clarifications to ensure fairness and credibility before it is submitted to parliament.

The central ⁠bank governor said the draft required further refinement, ‌including clearer provisions to guarantee equitable ‍treatment of depositors ‍and to reinforce the state’s commitments ‍under the law.

The 2019 financial collapse - the result of decades of unsustainable financial policies, waste and corruption - led the state to default ​on its sovereign debt and sank the Lebanese pound.

The draft law marks ⁠the first time Beirut has put forward legislation aimed at addressing a vast funding shortfall - estimated at $70 billion in 2022 but now believed to be higher.

Prime Minister Nawaf Salam on Monday urged ministers to swiftly approve the draft legislation.

The cabinet discussed the law on Monday and Tuesday and is set to continue discussions ‌on Friday.