BEIRUT: Syrian government forces are nearing the last major town held by Daesh in Homs province, part of their multi-pronged advance toward the jihadist group’s strongholds in the east of the country, a military source said on Thursday.
The source said combat operations would accelerate toward the town of Al-Sukhna, some 50 km (30 miles) from the administrative frontier of Deir Al-Zor province, where Daesh has redeployed many fighters after losing ground in Syria and Iraq.
“Capturing Al-Sukhna means opening the door and path for forces to move to Deir Al-Zor directly,” the source told Reuters, adding that the military had captured positions 8 km (5 miles) southwest of the town on Wednesday evening.
Daesh is losing ground fast in Syria to separate campaigns waged by the Russian-backed Syrian government on the one hand, and to US-backed Kurdish forces and their allies on the other.
Government forces, backed by the Russian air force and Iran-backed militias, have also been advancing against Daesh in Hama province and in southern areas of Raqqa province.
US-led operations against Daesh are currently focused on taking Raqqa city.
Government forces have been approaching Al-Sukhna gradually since capturing the ancient city of Palmyra, some 50 km away, in March.
“It is natural that combat operations escalate in this direction and take on a stronger and faster nature,” the source said, adding that Daesh had concentrated forces in Al-Sukhna.
The Syrian Observatory for Human Rights said the government forces were being supported in the attack by Russian air strikes and allied militias, and had moved to within 5 km of Al-Sukhna.
Deir Al-Zor province, which borders Iraq to the east, is almost entirely under Daesh control. The Syrian government has held on to a pocket of territory in the provincial capital of Deir Al-Zor city, and at nearby air base.
Syrian army troops push towards Daesh stronghold of Deir Al-Zor
Syrian army troops push towards Daesh stronghold of Deir Al-Zor
Lebanon approves financial gap draft law despite opposition from Hezbollah and Lebanese Forces
- Legislation aims to address the fate of billions of dollars in deposits that have been inaccessible to Lebanese citizens during the country’s financial meltdown
BEIRUT: Lebanon’s Cabinet on Friday approved a controversial draft law to regulate financial recovery and return frozen bank deposits to citizens. The move is seen as a key step in long-delayed economic reforms demanded by the International Monetary Fund.
The decision, which passed with 13 ministers voting in favor and nine against, came after marathon discussions over the so-called “financial gap” or deposit recovery bill, stalled for years since the banking crisis erupted in 2019. The ministers of culture and foreign affairs were absent from the session.
The legislation aims to address the fate of billions of dollars in deposits that have been inaccessible to Lebanese citizens during the country’s financial meltdown.
The vote was opposed by three ministers from the Lebanese Forces Party, three ministers from Hezbollah and the Amal Movement, as well as the minister of youth and sports, Nora Bayrakdarian, the minister of communications, Charles Al-Hajj, and the minister of justice, Adel Nassar.
Finance Minister Yassin Jaber broke ranks with his Hezbollah and Amal allies, voting in favor of the bill. He described his decision as being in line with “Lebanon’s supreme financial interest and its obligations to the IMF and the international community.”
The draft law triggered fierce backlash from depositors who reject any suggestion they shoulder responsibility for the financial collapse. It has also drawn strong criticism from the Association of Banks and parliamentary blocs, fueling fears the law will face intense political wrangling in Parliament ahead of elections scheduled in six months.
Prime Minister Nawaf Salam confirmed the Cabinet had approved the bill and referred it to Parliament for debate and amendments before final ratification. Addressing public concerns, he emphasized that the law includes provisions for forensic auditing and accountability.
“Depositors with accounts under $100,000 will be repaid in full with interest and without any deductions,” Salam said. “Large depositors will also receive their first $100,000 in full, and the remainder will be issued as negotiable bonds backed by the assets of the Central Bank, valued at around $50 billion.”
He said further that bondholders will receive an initial 2 percent payout after the first tranche of repayments is completed.
The law also includes a clause requiring criminal accountability. “Anyone who smuggled funds abroad or benefited from unjustified profits will be fined 30 percent,” Salam said.
He emphasized that Lebanon’s gold reserves will remain untouched. “A clear provision reaffirms the 1986 law barring the sale or mortgaging of gold without parliamentary approval,” he said, dismissing speculation about using the reserves to cover financial losses.
Salam admitted that the law was not perfect but called it “a fair step toward restoring rights.”
“The banking sector’s credibility has been severely damaged. This law aims to revive it by valuing assets, recapitalizing banks, and ending Lebanon’s dangerous reliance on a cash economy,” he said. “Each day of delay further erodes people’s rights.”
While the Association of Banks did not release an immediate response after the vote, it previously argued during discussions that the law would destroy remaining deposits. Bank representatives said lenders would struggle to secure more than $20 billion to cover the initial repayment tier and accused the state of absolving itself of responsibility while effectively granting amnesty for decades of financial mismanagement and corruption.
The law’s fate now rests with Parliament, where political competition ahead of the 2025 elections could complicate or delay its passage.
Lebanon’s banking sector has been at the heart of the country’s economic collapse, with informal capital controls locking depositors out of their savings and trust in state institutions plunging. International donors, including the IMF, have made reforms to the sector a key condition for any financial assistance.
