The United States government has announced new sanctions on 10 members and associates of Hamas, following the group’s recent attack on Israel. The sanctions target asset managers responsible for Hamas’ investment portfolio, as well as a virtual currency exchange and its operator.
According to a press release from the Treasury Department, the sanctioned entities will have their assets frozen and will be prohibited from conducting transactions with U.S. banks.
In a statement, Secretary of the Treasury Janet L. Yellen emphasized the need for decisive action against Hamas’ financiers and facilitators in response to their brutal attack on Israeli civilians. She reaffirmed the commitment of the U.S. Treasury to effectively disrupt terror finance, pledging to utilize all available tools against Hamas.
The Treasury Department revealed that Hamas has a “secret investment portfolio” located worldwide, which generates substantial revenue. The group’s assets in countries like Sudan and Turkey are estimated to be worth hundreds of millions of dollars.
The release further explained that this investment network is under the direct control of the highest levels of Hamas leadership. It enables senior Hamas officials to live in luxury, while ordinary Palestinians in Gaza suffer from harsh living conditions and economic challenges.
The ongoing Israel-Hamas conflict, now entering its second week, has resulted in severe devastation in the region. Palestinian officials report that Israeli airstrikes in Gaza have claimed the lives of approximately 3,000 people and injured over 12,500 others. Meanwhile, Israel’s blockade on supplies entering Gaza has left residents without sufficient access to food, water, and fuel. In response, Hamas’ attack on Israel has caused the deaths of at least 1,400 people, according to Israeli officials.