US Targets Hamas’ Financial Network, Key Members With Sanctions
- Treasury sanctions people managing assets in Hamas portfolio
- It also targets Gaza-based virtual currency exchange, operator
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The US sanctioned several individuals associated with Hamas’ “secret” investment portfolio as well as two senior members of the organization’s leadership in a move designed to limit the group’s ability to raise funds following its attack on Israel.
Six of the individuals are accused of running an investment portfolio worth hundreds of millions of dollars with companies in Turkey, Algeria, Sudan, the United Arab Emirates and other countries. The network uses front companies to disguise its activities and generates revenue used to support senior Hamas officials, allowing them to live in luxury, Treasury said in a statement Wednesday.