In response to the 7 October attack on Israel by the Palestinian group Hamas, the US Treasury Department has announced a second round of sanctions.
Released on Friday, the sanctions, facilitated through the Office of Foreign Asset Control, target Hamas’s financial networks, additional assets in its investment portfolio, and individuals involved in evading existing sanctions.
This latest move builds upon the initial round of sanctions imposed on 18 October, which focused on designating Hamas operatives, financial facilitators, and officials managing the group’s secret international investment portfolio dating back to May 2022.
The sanctioned entities include members of Iran’s Revolutionary Guard Corp and a Gaza-based organization responsible for channeling illicit funds from Iran to Hamas and the Palestinian Islamic Jihad.
The US Treasury Department emphasized that the secret Hamas portfolio is estimated to be worth hundreds of millions of dollars, with front companies operating under the guise of legitimate businesses in various countries, including Sudan, Algeria, Turkey, and the United Arab Emirates.
Representatives associated with these entities have attempted to conceal Hamas’s control over the assets.
Furthermore, the statement underscored Iran’s pivotal role in providing financial, logistical, and operational support to Hamas.
Deputy Treasury Secretary Wally Adeyemo stated that these latest sanctions highlight the US’s commitment to dismantling Hamas’s funding networks.
The aim is to utilize counterterrorism sanctions authorities and collaborate with global partners to prevent Hamas from exploiting the international financial system.
