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US Steps up Pressure on Hamas With New Round of Sanctions
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By News
Published 6 months ago on
October 18, 2023

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The U.S. Treasury Department is set to impose fresh sanctions on several leaders of Hamas, the Palestinian militant group, in response to their attacks on Israel, according to U.S. officials. The sanctions are designed to disrupt Hamas’ global financial networks, which are crucial for funding their operations based in the Gaza Strip.

Hamas, recognized as a terrorist organization by the U.S., EU, and other Western nations, has been using NGOs, charities, secret investment portfolios, and a network of global assets to raise and move money worldwide. The new sanctions will not only increase pressure on countries hosting Hamas leaders, such as Qatar, but also on the private sector, which the Treasury Department is working closely with to enforce existing and new sanctions.

Brian Nelson, Treasury undersecretary for terrorism and financial intelligence, emphasized the department’s commitment to disrupting Hamas’ financing operations, a priority that has spanned decades. He also hinted at the Treasury’s future plans, stating that they will continue to target Hamas’ portfolios and those who service them.

The Treasury Department is also seeking cooperation from foreign governments and the private sector to detect suspicious financial activities linked to Hamas. Nelson urged outside forensic experts to join their efforts to cut off Hamas’ ability to fuel their campaign of violence.

Read more at Axios.

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