Conflict is remaking the Middle East’s economic order
Iran is boxed in as Saudi Arabia, the UAE and Turkey look to capitalise
THE LIQUIDITY crunch could not have come at a worse time. Usually, most of Hizbullah’s budget arrives on a plane in Damascus, the Syrian capital, with the country’s Iranian ambassador. The cash is then transported across the Lebanese border to the Shia militia. But on December 8th, just weeks after Hizbullah stopped fighting with Israel in Lebanon, Bashar al-Assad, Syria’s president and Iran’s ally, was overthrown. Iran evacuated officials and soldiers in Syria. Already financially emaciated, Hizbullah faces rebuilding deprived of its surest cash flow.
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This article appeared in the Finance & economics section of the print edition under the headline “Tehran’s got money troubles”
From the December 21st 2024 edition
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