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Drop in Oil Prices Forces Hezbollah to Impose Salary Cuts, Delay Payments to Suppliers

Hezbollah is forced to squeeze its belt as its patron, Iran, feels the impact of lower oil revenues and sanctions. Photo: Wikimedia Commons.

Yahoo – Hezbollah, the Shi’a militant group, is facing a new enemy: financial austerity.

A slump in global oil prices and nuclear-tied sanctions are squeezing the group’s patron Iran, which is already funneling billions of dollars to the Syrian regime. As Iran tightens its belt, Hezbollah has had to impose salary cuts on personnel, defer payments to suppliers and reduce monthly stipends to its political allies in Lebanon, according to a wide range of political and diplomatic sources in Beirut, including friends and foes of the powerful Shi’a party.

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Source:: The Algemeiner

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Posted by on January 5, 2015. Filed under Breaking News,Israeli News,Slider,World News. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.