Hezbollah’s hidden wealth: Israeli military claims cash and gold worth $500m in bunker under hospital

Hezbollah is reportedly hiding hundreds of millions of dollars in cash and gold in a secret “money bunker” beneath a hospital in Beirut, according to Israel’s military. The Israeli Defense Forces (IDF) claimed that the treasure trove was funneled from Iran as part of a long-standing arrangement between Iran and Hezbollah, a group led by Hassan Nasrallah until his recent death.

Allegations from the IDF

On Monday, IDF spokesman Daniel Hagari revealed that the bunker, estimated to hold at least half a billion dollars in US currency and gold, is located under the Al-Sahel Hospital in Beirut’s Dahiyeh district, a Hezbollah stronghold. The IDF’s claim is part of Israel’s broader effort to demonstrate that groups like Hamas and Hezbollah embed their operations within civilian infrastructure, amidst international criticism over humanitarian concerns in Gaza and Lebanon.

Iran’s Role and Hezbollah’s Financial Network

According to Hagari, Iran has been transferring money to Hezbollah through oil sales in Syria, sending cash and gold via flights to its embassy in Beirut. The funds are allegedly used not for rebuilding Lebanon, which has faced a severe economic crisis, but to strengthen Hezbollah’s operations. Hezbollah has also reportedly established factories in Syria, Lebanon, Yemen, and Turkey to generate income for its activities, further devaluing the Lebanese pound.

Denials from Hospital Officials

In response to these accusations, Fadi Alameh, the director of Al-Sahel Hospital and a Lebanese MP affiliated with Hezbollah’s ally, the Shia Amal party, denied the existence of any Hezbollah bunker. He invited the Lebanese Army to inspect the hospital and allowed journalists to tour the underground rooms, which are used for surgeries, to disprove the Israeli claims. Lebanese television even aired footage of journalists searching the hospital for hidden Hezbollah funds.

Strikes on Hezbollah’s Financial Wing

The IDF’s claims come amid an ongoing campaign to dismantle Hezbollah’s financial infrastructure. Israel has targeted Hezbollah’s financial wing, Al-Qard Al-Hassan, striking 30 of its facilities across Lebanon, including underground vaults holding millions in cash and gold. Al-Qard Al-Hassan has been accused by the US of hoarding currency critical to Lebanon’s economy, and in 2021, sanctions were imposed on individuals linked to the bank.

Hezbollah’s Leader Killed

Hassan Nasrallah, Hezbollah’s former leader, was reportedly killed last month when an IDF “bunker buster” bomb targeted a fortified Hezbollah chamber in Beirut. Israel’s recent strikes are part of a broader strategy to degrade Hezbollah’s military and economic capabilities, with Israeli Defense Minister Yoav Gallant designating Al-Qard Al-Hassan as a terror organization, used to fund the group’s activities and maintain its terror network.