Syria Receives Unspecified Amount of Local Currency from Russia

A retired Syrian employee waits to receive their salary for the first time after the fall of Bashar al-Assad's regime, in Damascus, Syria, 06 February 2025. (EPA)
A retired Syrian employee waits to receive their salary for the first time after the fall of Bashar al-Assad's regime, in Damascus, Syria, 06 February 2025. (EPA)
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Syria Receives Unspecified Amount of Local Currency from Russia

A retired Syrian employee waits to receive their salary for the first time after the fall of Bashar al-Assad's regime, in Damascus, Syria, 06 February 2025. (EPA)
A retired Syrian employee waits to receive their salary for the first time after the fall of Bashar al-Assad's regime, in Damascus, Syria, 06 February 2025. (EPA)

Syria's central bank said a batch of Syrian currency had arrived at Damascus airport from Russia, where banknotes were printed under the rule of toppled President Bashar al-Assad, Syria's state news agency SANA reported on Friday.

The central bank did not specify the amount of currency that had arrived but a source with knowledge of the matter told Reuters it was in the "hundreds of billions of Syrian pounds," equivalent to tens of millions of US dollars.

The source said the cash had been printed in Russia under Assad's rule but had not been shipped to Syria by the time he was toppled by the opposition in early December 2024.

Syria's new leadership ordered the Russian company printing the currency to stop after Assad fled to Moscow, the source said, without providing details on what prompted Friday's delivery of the previously printed cash.

Syria has been facing a liquidity crunch since Assad's ouster, with Syria's new central bank governor Maysaa Sabreen telling Reuters in January that she wanted to avoid printing Syrian pounds to guard against a surge in inflation.

Syria's pound has strengthened on the black market since the new leadership took over, helped by an influx of Syrians from abroad and an end to strict controls on trade in foreign currencies.

It traded at 9,850 pounds to the US dollar on Thursday, according to exchange houses, which are closed on Friday. The official foreign exchange rate has stayed around 13,000 pounds to the US dollar, according to statements by the central bank.

But that has sparked concerns about liquidity in Syrian pounds. The central bank only has foreign exchange reserves of around $200 million in cash, sources told Reuters, a huge drop from the $18.5 billion that the International Monetary Fund estimated Syria had in 2010, a year before civil war erupted.

Russia, which later intervened on Assad's behalf in the war that broke out after protests against him, is hoping to retain the use of naval and air bases in Syria under its new leaders.

Russia's President Vladimir Putin held a phone call with Syria's interim leader Ahmed al-Sharaa on Wednesday, the first call between the two leaders since Assad's ouster.

The Syrian presidency said Putin had invited Syria's new foreign minister to visit Moscow and had told Sharaa that Moscow was ready to reconsider bilateral deals signed under Assad.

Before it turned to Russia, Syria had its money printed in Austria by Oesterreichische Banknoten-und Sicherheitsdruck GmbH, a subsidiary of the Austrian central bank.

A report this month by international aid group MercyCorps' crisis analysis unit said households were struggling to pay for basic needs because of liquidity shortages in the market.



Lebanon: Hezbollah Boycotts Cabinet Session over Iran Ambassador Expulsion

A previous session of the Lebanese Parliament (National News Agency)
A previous session of the Lebanese Parliament (National News Agency)
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Lebanon: Hezbollah Boycotts Cabinet Session over Iran Ambassador Expulsion

A previous session of the Lebanese Parliament (National News Agency)
A previous session of the Lebanese Parliament (National News Agency)

Ministers from Hezbollah and its ally Amal boycotted Lebanon's cabinet session on Thursday in protest over the government declaring the Iranian ambassador persona non grata, a Lebanese official told AFP.

The two Shiite parties have a combined four ministers, with one independent Shiite also represented in the cabinet present at the meeting, the official said, as the spat over the Iranian diplomat's expulsion escalated.

Hezbollah is an armed movement backed by Iran, which also has political representation in both government and parliament.


Lebanese Fear Another Occupation as Israel Threatens to Use Gaza Tactics in the South

Israeli military vehicles maneuver on the Lebanese side of the border, as seen from the Upper Galilee in northern Israel, 25 March 2026. EPA/ATEF SAFADI
Israeli military vehicles maneuver on the Lebanese side of the border, as seen from the Upper Galilee in northern Israel, 25 March 2026. EPA/ATEF SAFADI
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Lebanese Fear Another Occupation as Israel Threatens to Use Gaza Tactics in the South

Israeli military vehicles maneuver on the Lebanese side of the border, as seen from the Upper Galilee in northern Israel, 25 March 2026. EPA/ATEF SAFADI
Israeli military vehicles maneuver on the Lebanese side of the border, as seen from the Upper Galilee in northern Israel, 25 March 2026. EPA/ATEF SAFADI

As Israel trades fire with Hezbollah, calls for mass evacuations and sends ground troops deeper into Lebanon, its leaders have hinted at a long-term occupation modeled on the devastating conquest of much of Gaza after Hamas' Oct. 7, 2023, attack.

Israel says it needs to establish a zone of control in the depopulated south to shield its own northern communities, which have faced daily rocket attacks since the Iran-backed militant Hezbollah group joined the wider war. Many in Lebanon fear that could mean the open-ended displacement of over a million people, the flattening of their homes and a loss of territory.

Israel's Defense Minister Israel Katz said this week that it would create a “security zone” up to the Litani River, some 30 kilometers (20 miles) from the border in some places. He said troops would destroy homes, which he claimed were being used by militants, and that residents would not return until northern Israel is safe.

The campaign would mirror the one in Gaza, in which Israeli forces flattened and largely depopulated the eastern half of the Palestinian territory, Katz said on Tuesday. Israel has said it won't withdraw from the enclave until Hamas disarms as part of a US-brokered ceasefire deal.

“We have ordered an acceleration in the destruction of Lebanese homes in contact-line villages to neutralize threats to Israeli communities, in accordance with the model of Beit Hanoun and Rafah in Gaza,” Katz said, referring to border towns that were largely obliterated.

From one war to the next

After a 2024 ceasefire halted Israel's last war with Hezbollah, Israeli forces gradually withdrew from southern Lebanon except for five strategic hilltops along the border.

Lebanese returned to find that homes, infrastructure, and some entire villages destroyed. Israel said it had dismantled Hezbollah infrastructure that could have been used to launch an Oct. 7-style attack, and it continued to strike what it said were militant targets on a near-daily basis after the truce.

Hezbollah resumed it attacks after Israel and the United States launched the war with Iran on Feb. 28, accusing Israel of having repeatedly violated the ceasefire. Israel accused Lebanon's government of failing to carry out its pledge to disarm Hezbollah, despite its unprecedented steps toward criminalizing the group.

In the latest fighting, Israel has launched blistering air raids across Lebanon, killing more than 1,000 people — mostly outside of the border area — and displacing over a million. It has warned residents to evacuate a wide swath of the south, extending from the border to the Zahrani River, some 55 kilometers (34 miles) away.

The Israeli military says it has launched a limited ground operation. Political leaders speak of more ambitious plans.

Bezalel Smotrich, Israel's far-right finance minister and a member of its Security Cabinet, said this week that the current war must end with “fundamental change.”

“The Litani must be our new border with the state of Lebanon,” he said.

Echoes of an earlier occupation Israel invaded southern Lebanon in 1982 during the country's civil war. Hezbollah, established that year, waged a guerrilla campaign that eventually ended the Israeli occupation in 2000.

This time around, Israel has bombed seven bridges over the Litani, the northern edge of a UN-patrolled buffer zone established after previous conflicts. Israel says Hezbollah was using the bridges to move fighters and weapons, and that its military will control the remaining crossings.

Heavy fighting has meanwhile erupted in the town of Khiam, the fall of which would cut off the south from Lebanon's eastern Bekaa Valley, another area with a large Hezbollah presence.

After the bridges were bombed, Lebanese President Joseph Aoun accused Israel of seeking to sever the south from the rest of the country “to establish a buffer zone, entrench the reality of occupation, and pursue Israeli expansion within Lebanese territories.”

UN peacekeepers say the bombing of the bridges and ongoing clashes have hindered their operations and put personnel at risk.

“This is the closest fighting activity we have seen to our positions,” said Kandice Ardel, spokesperson for the UN mission known as UNIFIL. “Bullets, fragments, and shrapnel have hit buildings and open areas inside our headquarters.”

Ardel said peacekeepers at observation points have seen a growing presence of Israeli troops and “engineering assets,” though they have not seen any new military positions built yet.

‘Different shades’ of control

Mohanad Hage Ali, a senior fellow at the Carnegie Middle East think tank in Beirut, said Israel has already established “different shades” of control.

“The first line of borders is a no-man zone. This is basically a large parking lot that is facing Israel,” he said. “There is nothing there, no movement, nothing at all.”

Lebanese movement is restricted farther north. During last year's olive harvest, farmers struggled to reach their groves because of regular Israeli strikes and had to be accompanied by Lebanese troops and UNIFIL peacekeepers, who coordinated with Israel.

Sarit Zehavi, the founder and president of the Alma Institute and a retired Israeli military officer, said Israel will likely establish a more extensive area of control stretching farther north.

She acknowledged that Israel was unlikely to defeat Hezbollah and was at risk of having to maintain a long-term presence in southern Lebanon.

“But the other alternative is to take the risk that we will be slaughtered. It’s as simple as that,” she said.

No diplomatic offramp in sight

Lebanon's government has broken a longstanding taboo by proposing direct talks with Israel. It has also taken action against Hezbollah since the last war, criminalizing its activities and claiming to have dismantled hundreds of military positions.

But neither the US nor Israel has shown any interest in such talks as they focus on the wider war with Iran.

If negotiations occur, Israel could demand major concessions in exchange for relinquishing territory taken by force — an updated version of the decades-old “land for peace” formula.

Israel seized parts of Syria after the overthrow of Syrian President Bashar Assad and is in talks with the new government in Damascus about an updated security arrangement. In Gaza, it has vowed to keep half the territory until the militant Palestinian Hamas group lays down its arms, as each side has accused the other of violating the truce reached in October.

Lebanese who fled their homes are meanwhile in limbo — and some fear they may never return.

Elias Konsol and his neighbors fled the Christian border village of Alma al-Shaab with UNIFIL's help. He was reunited with his mother, who cried in his arms, at a church near Beirut where funeral services were being held for a resident killed in an Israeli strike.

Konsol said there were no weapons or Hezbollah fighters in his village, but it was forced to evacuate anyway.

“We no longer know our fate,” he said. “We don’t know if we will see our homes and village again.”


Lebanon: Hezbollah Claims Targeting 10 Israeli Merkava Tanks

Israeli tanks near the Israeli side of the border with Lebanon, amid escalating hostilities between Israel and Hezbollah, as the US-Israeli conflict with Iran continues, in northern Israel, March 25, 2026. REUTERS/Tyrone Siu
Israeli tanks near the Israeli side of the border with Lebanon, amid escalating hostilities between Israel and Hezbollah, as the US-Israeli conflict with Iran continues, in northern Israel, March 25, 2026. REUTERS/Tyrone Siu
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Lebanon: Hezbollah Claims Targeting 10 Israeli Merkava Tanks

Israeli tanks near the Israeli side of the border with Lebanon, amid escalating hostilities between Israel and Hezbollah, as the US-Israeli conflict with Iran continues, in northern Israel, March 25, 2026. REUTERS/Tyrone Siu
Israeli tanks near the Israeli side of the border with Lebanon, amid escalating hostilities between Israel and Hezbollah, as the US-Israeli conflict with Iran continues, in northern Israel, March 25, 2026. REUTERS/Tyrone Siu

Lebanon's Iran-aligned Hezbollah group said Thursday that it struck10 Israeli Merkava tanks in three southern towns along the border.

In a series of separate statements, Hezbollah said that its members targeted the advanced Israeli tanks with guided missiles in the towns of Deir Siryan, Debel, and Al-Qantara, and achieved confirmed hits.

Earlier, Hezbollah said it targeted the headquarters of the Israeli Ministry of War in the center of Tel Aviv, and the Dolphin barracks of the Military Intelligence Division north of Tel Aviv with a number of missiles.

The Israeli military said an Israeli soldier was killed in fighting in south Lebanon after the army announced it was conducting ground operations against Hezbollah.

"Staff sergeant Ori Greenberg, aged 21, from Petah Tikva, a soldier of the Reconnaissance unit, Golani Brigade, fell during combat in southern Lebanon," the military said.

In total, three Israeli soldiers have been killed in fighting in south Lebanon since Hezbollah drew the country into the Israel and US war on Iran by launching rocket attacks against Israel on March 2 to avenge the killing of Iran's supreme leader Ali Khamenei.

Israel is responding by launching large-scale raids on Lebanon, while its forces have advanced into southern Lebanon.

After the Lebanese Presidency repeatedly announced its readiness to open direct negotiations with Israel in order to end the war, Hezbollah announced its refusal to negotiate "under fire."

Its Secretary-General, Naim Qassem, said Wednesday in a statement: "When negotiating with the Israeli enemy under fire is proposed, it is an imposition of surrender and a deprivation of all of Lebanon's capabilities."

He called on the government to "reverse its decision to criminalize resistance and the resistance fighters," after announcing a ban on the party's security and military activities, as part of a series of unprecedented measures it has taken since the outbreak of the war.