The Biden administration took decisive action on Wednesday, imposing sanctions on ten Hamas leaders and individuals connected to the group’s global fundraising network. These financial penalties aim to disrupt Hamas funding and target its assets in various countries, including Gaza, Sudan, Algeria, Turkey, and Qatar. The Treasury Department’s Office of Foreign Assets Control (OFAC) also sanctioned “Buy Cash,” a Gaza-based platform allegedly involved in Hamas’ fundraising activities.
The United States, in collaboration with regional partners and allies, is committed to eliminating Hamas’ financial support in the West Bank, Gaza, and beyond. Secretary of the Treasury Janet L. Yellen emphasized that the U.S. is taking swift action against Hamas’s financiers and facilitators in response to their brutal attacks on Israeli civilians, including children.
US Sanctions Hamas Leaders, Financiers, Facilitators Over Brutal Israel Assault
The Biden administration on Wednesday issued sanctions to disrupt Hamas funding amid the ongoing Israel-Hamas war.https://t.co/1vrZ4D67Na
— The Epoch Times (@EpochTimes) October 19, 2023
Hamas is known to receive funds from Iran while generating significant revenue through its clandestine investment portfolio, which is valued at hundreds of millions of dollars and spread across multiple countries. Companies affiliated with Hamas have attempted to disguise their role by posing as legitimate businesses. Meanwhile, ordinary Palestinians in Gaza continue to face harsh living conditions as Hamas senior officials live in luxury.
These sanctions come after a bipartisan group of lawmakers raised concerns about how cryptocurrencies may have contributed to financing Hamas’ recent attacks on Israel. The Biden administration has vowed to effectively counter Iran’s development, procurement, and proliferation of missiles and drones, as U.N. Security Council restrictions on Iran’s missile-related activities expired.
President Biden’s visit to Israel served to express support for the country and plea for humanitarian aid to reach the Palestinian people in Gaza. Israel has agreed to allow conditional aid to be delivered through the Rafah crossing, provided it is strictly limited to food, water, and medicine for the civilian population. The region remains tense, with conflicting reports about the al-Ahli Baptist Hospital explosion, for which Israel denies responsibility. President Biden’s trip demonstrates the administration’s unwavering commitment to standing by its ally, Israel.