Blinken Heads To Middle East In Diplomatic Push As Israel, Hezbollah Tensions Soar

U.S. Secretary of State Antony Blinken is embarking on a high-stakes mission to the Middle East, as the Israel-Gaza conflict shows no signs of abating and concerns mount over spillover into Lebanon.

Blinken's trip, his 11th since the Oct. 7, 2023 Hamas attack on Israel, aims to press regional leaders for a cease-fire, defuse escalating tensions with Hezbollah and lay out a post-conflict roadmap for Gaza.

The State Department emphasized Blinken's goal is to help stabilize the region and avoid a broader confrontation involving Israel and Iran-backed Hezbollah.

U.S. envoy Amos Hochstein, who is already in Beirut, warned: "We are either going to reach a solution or things are going to escalate out of control."

Israeli Espionage Bust

Israeli security forces uncovered an alleged Iranian spy ring operating in northern Israel, Reuters reported.

Seven suspects, reportedly from Haifa and surrounding areas, were arrested for gathering intelligence on military bases and strategic infrastructure.

According to the Shin Bet, this marks a significant Iranian effort to recruit Israeli citizens for espionage.

Hezbollah Financial Links Targeted

Israeli airstrikes over the weekend targeted multiple branches of the Al-Qard Al-Hassan Association, a Hezbollah-linked financial institution with over 30 branches in Lebanon.

Though Al-Qard Al-Hassan Association describes itself as a charitable organization, the U.S. Treasury sanctioned it in 2007, alleging it serves as a cover for Hezbollah's financial operations.

Israeli military spokesperson Daniel Hagari further accused Hezbollah of hiding cash and gold reserves worth $500 million beneath Al-Sahel Hospital in Beirut.

"Tonight, I am going to declassify intelligence on a site that we did not strike—where Hezbollah has millions of dollars in gold and cash—in Hassan Nasrallah's bunker. Where is the bunker located? Directly under Al-Sahel Hospital in the heart of Beirut."

Listen to IDF Spox.… pic.twitter.com/SjMZQpKqoJ

— Israel Defense Forces (@IDF) October 21, 2024

Market Reactions

Oil prices, as tracked by the United States Oil Fund USO, rose 2% trading at $70. Israeli stocks, as monitored through the VanEck Israel ETF USO, also continued to rally posting a 0.8% gain, marking its ninth consecutive positive session.

Read Next:

• US Investigating Leak Of ‘Highly Classified’ Documents On Israel’s Alleged Plans To Attack Iran

Photo: Shutterstock