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Israel Today: Ongoing War Report - Update from 2025-04-26 at 19:05
HEADLINES
1. Israel Targets Hamas Cash Reserves Amid Gaza Crisis
2. Iran-Backed Houthi Attacks Increase Regional Tensions
3. Trump Threatens Iran Strike as Middle East Fires Up
The time is now 03:00 PM in New York, I'm Noa Levi and this is the latest Israel Today: Ongoing War Report.
At 3:00 PM, we continue to follow the escalating multi-front conflict involving Israel and Iran-backed groups across seven key theaters. The situation remains tense and complex, with significant developments on each front.
In the Gaza Strip, Israeli efforts to weaken Hamas’s financial and logistical capabilities are intensifying. Recently, Israeli Foreign Minister Gideon Sa'ar proposed a measure aimed at disrupting Hamas’s cash reserves by replacing or invalidating certain series of 200 shekel banknotes. The plan involves replacing old banknotes with new ones of different colors, which would be exchangeable in Israeli banks—something Hamas cannot do within Gaza. Israeli authorities have dismissed the proposal, emphasizing that the decision to cancel or alter banknotes lies solely with the Governor of the Bank of Israel.
The financial crisis in Gaza continues to deepen. Reports indicate a severe cash shortage, with black market exchange rates for converting international aid into cash reaching as high as 28%. This has led to increased reliance on barter trade, and a notable decline in the circulation of small denomination notes, such as the 10 and 20 shekel bills, which are being boycotted by merchants due to fears of counterfeiting and devaluation. The scarcity of physical cash has forced many residents into making do with alternative payment methods, further destabilizing the economy controlled by Hamas, which holds substantial cash reserves—likely in 200 shekel notes. An Israeli move to invalidate these notes could significantly weaken Hamas’s operational capacity, especially in paying salaries and maintaining social control.
Meanwhile, in southern Israel, fierce fighting persists in the enclave of Saja'iya. A military operation by IDF reserves encountered heavy resistance, including an intense exchange of fire with Hamas militants. Reports detail the death of a Border Police officer and several injuries among IDF and security forces. The firefight involved multiple rocket and missile attacks on Israeli vehicles and personnel, with at least two soldiers killed and several wounded. The engagement highlights the ongoing military pressure and the high stakes for Israeli forces operating close to the Gaza border.
On the regional front, Iran’s influence remains prominent. Iranian President Ebrahim Raisi held talks with leaders of India and Pakistan, proposing efforts to ease tensions between the two nuclear-armed neighbors. Iran’s strategic communications aim to position itself as a mediator while maintaining its support for Houthi militants in Yemen, who recently intercepted an Israeli drone and missile fired from Yemen’s Houthi-controlled territory. The Houthis, supported by Iran, have increased attacks on Israel since October 2023, targeting shipping lanes in the Red Sea and launching missiles into Israeli territory, including a ballistic missile intercepted over northern Israel. These attacks have prompted a US-led military campaign, “Operation Rough Rider,” which seeks to degrade Houthi capabilities.
In broader geopolitical developments, former US President Donald Trump has signaled readiness to lead a military strike against Iran if negotiations over its nuclear program fail. Trump emphasized that he would prefer a diplomatic solution but indicated he is prepared to act decisively to prevent Iran from acquiring nuclear weapons. He also suggested that Saudi Arabia may rejoin the Abraham Accords, normalizing relations with Israel, after his upcoming Middle East visit.
The conflict’s regional dimensions are further complicated by internal asse
Published on 2 weeks, 5 days ago