The Israeli airstrike in southern Lebanon on Tuesday killed the head of a currency exchange company involved in funneling Iranian funds to Hezbollah, the Israeli military announced on Wednesday.

The strike targeted Haytham Abdullah Bakri, who led the Al-Sadiq currency exchange, a financial entity the Israeli army described as a key component in Hezbollah’s funding network.

In a statement, the Israeli military said the Al-Sadiq exchange "serves as a funds storage and transfer mechanism for the Hezbollah terror organization, for funds originating from the Iranian Quds Force." It added that Bakri worked closely with Hezbollah to facilitate the transfer of these funds.

“These funds are used by Hezbollah for military purposes, including purchasing weapons, means for manufacturing weapons, and providing salaries to operatives,” the statement said. “They are diverted for terrorist purposes and to finance the continuation of Hezbollah’s terrorist activities.”

The latest strike comes amid an intensifying campaign by Israel to disrupt Hezbollah’s funding and weapons supply lines. Just last week, the Israeli army confirmed the killing of Behnam Shahriyari, the head of Unit 190 of Iran’s Islamic Revolutionary Guard Corps (IRGC) Quds Force, which is responsible for the clandestine transfer of weapons to Iran’s regional proxies, particularly Hezbollah.

“Shahriyari exclusively oversaw the mechanisms that enabled the transfer of hundreds of millions of dollars annually to the Quds Force and its proxies,” the Israeli military said.

These financial routes, it noted, involved complex offsets and exchanges between currency firms in Turkey, Iraq, and the United Arab Emirates, ultimately connecting with Lebanese currency exchanges.

The Israeli military called the deaths of Bakri and Shahriyari “a severe blow to the Iranian financing routes to Hezbollah,” emphasizing the strategic impact of the two targeted killings on Iran’s regional influence and Hezbollah’s operational capabilities.