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Edition of Sunday, 1 November 2026English edition
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The Geopolitician

Country risk, from the local press

Lebanon · Country watch

Lebanon Banks Tax Dispute, Hormuz Oil Risk

Lebanese banks face tax changes on Eurobond losses; Hormuz tensions impact oil costs.

· · 3 articles read

The picture Deteriorating How this is judged →

Business conditions in Lebanon are deteriorating due to a tax dispute affecting banks and increased oil transport costs from Hormuz tensions, impacting energy prices and financial stability.

Flare-up watch: Calm (−0.5) · How this is judged → · All Lebanon briefings →

In this briefing Association of Banks in Lebanon · Ministry of Finance (Lebanon) · Strait of Hormuz · British Maritime Trade Operations · UNRWA · Sidon

Regulation

  • Finance

Lebanese banks contest Eurobond loss tax treatment

Deutsche bank building facade with repeating pattern
Mikhail Mamaev / Unsplash

Lebanese banks are contesting the Ministry of Finance's proposed tax treatment of Eurobond losses, arguing it could convert actual losses into taxable accounting profits. The Ministry insists the changes are necessary to correct longstanding tax declarations, according to An-Nahar. The dispute arises as the country seeks to reorganize its banking sector to restore depositor confidence. The Association of Banks in Lebanon claims the changes could hinder efforts to recapitalize and repay deposits.

Impact Lebanese banks face potential tax liabilities, affecting their recapitalization efforts.

Sources: An-Nahar النهار ↗

Disruption

  • Energy
  • Logistics

Hormuz attacks raise oil transport costs

Recent attacks in the Strait of Hormuz have increased the cost of oil transportation, impacting fuel prices and production costs, according to An-Nahar. The British Maritime Trade Operations reported several incidents in October, including tanker delays and the need for enhanced security measures. These disruptions have led to higher insurance premiums and shipping costs, affecting refineries and consumers downstream.

Impact Oil importers face increased transportation costs, affecting fuel prices.

Sources: An-Nahar النهار ↗, Leb Economy ↗

Internal tension

  • Public sector

Protests in Sidon over UNRWA service cuts

Sidon's Sea Castle (1228). Sidon, Saida, Lebanon. This ancient Phoenician city is said to be inhabited since 4000 B.C.
Sidon's Sea Castle (1228). Sidon, Saida, Lebanon. This ancient Phoenician city is said to be inhabited since 4000 B.C. — Vyacheslav Argenberg, CC BY 4.0 via Wikimedia Commons

Protests erupted in Sidon against UNRWA's decision to reduce services, affecting healthcare and education for Palestinian refugees, Almaner News reports. The demonstration, organized by various Palestinian groups, highlighted the increasing economic burdens on refugees and fears of losing essential rights. The protestors demanded the restoration of services amid growing living costs.

Impact UNRWA service cuts impact Palestinian refugees' access to healthcare and education.

Sources: Almaner News ↗

Nothing significant reported today in Safety & health · Companies · Markets · Trade · Politics.

Also today in the local press

Sources in this briefing

Sources: each headline links to the original article on the publisher's site.

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