One of the Banks Implementing Hezbollah Sanctions Targeted in Attack

A bomb explosion on Sunday evening, June 13, targeted one of the buildings of Bank of Lebanon and the Middle East (Blom) in downtown Beirut, the capital of Lebanon. Minister of Interior Nohad Machnouk announced that the explosion caused material damage but no casualties. No group has claimed responsibility for the explosion so far. The Lebanese banking industry is currently at the center of a political crisis that began following the U.S. sanctions against many Hezbollah figures and its affiliated institutions. The Central Bank of Lebanon issued an order to implement these sanctions to avoid U.S. penalties. Consequently, Lebanese banks closed the accounts of about 100 individuals and entities linked to Hezbollah. Blom Bank is among the banks that blocked accounts associated with Hezbollah. The Lebanese state news agency reported, citing the Red Cross, that two people sustained minor injuries from the explosion and were treated on-site. After the explosion, black smoke rose from the site, and the Al-Mustaqbal network aired images of the damage to the bank building. Major General Ibrahim Basbous, the head of the Internal Security Forces of Lebanon, stated, 'The explosion was caused by a bomb placed in a flowerpot next to the bank wall. This bomb contained 15 kilograms of explosives.' The Minister of Interior also confirmed that the bank was the target of the explosion, emphasizing that it was unrelated to the 'Islamic State' group, which had previously carried out several suicide bombings in Beirut. In the last explosion in Beirut, the southern suburbs, which are predominantly Shiite and under Hezbollah's influence, were targeted, resulting in over 40 deaths. The 'Islamic State' group claimed responsibility for that explosion. Hezbollah, which the United States has designated as a terrorist organization, has significant political influence in Lebanon. The military wing of this party plays a major role in supporting the regime of Bashar al-Assad in Syria against its opponents. Hezbollah, backed by Iran, has substantial military capabilities. The Hezbollah Sanctions Act was passed by the U.S. Congress on December 15, 2015, and signed into law by the U.S. President. This legislation references two laws aimed at combating the financial resources of terrorist organizations and preventing money laundering. This law not only sanctions entities and individuals associated with Hezbollah but also any financial institution, company, or individual that collaborates with or assists the party. Lebanese media discuss the explosion. Lebanese newspapers on Monday largely agreed that the explosion on Sunday evening was related to the implementation of the Hezbollah sanctions law. The newspaper An-Nahar, close to the anti-Hezbollah movement, wrote in an editorial titled 'Intimidating Banks... A Message Delivered but Nothing Changes': 'There is a clear position against the American law and the necessity of its implementation.' The newspaper added, 'The perpetrators of the explosion chose Sunday evening during Iftar to carry out their operation so that no one would be killed. Their goal is clear: to send a message to the banks.' An-Nahar suggested that the possible reason for targeting Blom Bank was its stricter adherence to the U.S. sanctions law against Hezbollah. Blom Bank is considered one of the largest Lebanese banks and is listed alongside three other Lebanese banks in the list of the top 100 Arab financial institutions published by Forbes magazine. However, newspapers close to Hezbollah described the target of the Sunday evening explosion as an attempt to 'create discord in the country.' The newspaper Al-Akhbar, close to Hezbollah and located in a building opposite the explosion site, wrote: 'Terrorism targets Blom Bank: besieging the resistance with sanctions and discord.' The newspaper added, 'Everyone knows that Hezbollah has entered into tension with part of the banking industry, the reason being the implementation of the American law against the party.' Al-Akhbar continued, 'At this moment, a party decided to enter the game, thus targeting Blom Bank with a terrorist explosion to put the resistance in a position of accusation and besiege it with discord and sanctions.'