(The National-Abu Dhabi) Thomas Harding - Hizbullah is set to lose 40% of its income from Iran after the dramatic fall in oil prices, Dr. Matthew Levitt of the Washington Institute for Near East Policy told the Royal United Services Institute on Wednesday. Levitt said that on three previous occasions Tehran has "very suddenly cut back its financing for Hizbullah" by 40%, according to Israeli intelligence. "I should imagine it's happening again." But the group's financing has become so sophisticated that it can rely on significant income from activities in Europe through fundraising that includes fake orphanages. "The group's independent fundraising, conducted alongside its generous subsidies from Iran, are also intended to guarantee the group's future independence through diversified funding no matter what happens to Iran."
2020-04-23 00:00:00Full ArticleBACK Visit the Daily Alert Archive