On October 7, the United States announced new sanctions targeting individuals and organizations that are believed to be financially supporting Hamas. This announcement comes on the first anniversary of the deadly attack on Israel, which resulted in the deaths of over 1,200 people. In response, the U.S. government has been working to cut off funding to the group, which is officially considered a terrorist organization by the U.S.
The U.S. Department of the Treasury has made it clear that they will not stop in their efforts to limit Hamas’s financial activities. In a statement, Treasury Secretary Janet Yellen explained that the goal is to “relentlessly degrade” the ability of Hamas and other groups that are connected to it to raise money and plan more violent actions.
New Targets: Key Supporters and “Sham Charities”
The new round of sanctions issued by the U.S. focuses on individuals and entities that are believed to provide financial support to Hamas. One of the key targets is a Yemeni national who has been accused of being an international supporter of the group. Other individuals, based in Europe, are also on the U.S. list. These people are believed to be helping raise money through various means, including donations that are disguised as charity work.
The U.S. also took steps to address “sham charities” that pretend to be helping civilians in Gaza but are actually funneling money to Hamas. According to the U.S. government, these organizations have been able to raise millions of dollars under the false claim that the money will be used to help those in need. In reality, the funds are being used to support Hamas’s operations.
As of early 2024, the U.S. believes that Hamas has been receiving as much as $10 million a month through these fake charities. Europe, in particular, has been identified as a key source of donations to these organizations. The U.S. Treasury highlighted the importance of cracking down on these charities, as the money raised allows them to continue their violent activities.
Cutting Off Hamas’s Financial Operations
In addition to targeting individuals and sham charities, the U.S. sanctions also aim to disrupt financial institutions that are used to support Hamas. One such institution, Al-Intaj Bank, has been singled out for its role in helping to avoid international sanctions. The U.S. believes that the bank is operating outside the global financial system in order to fund Hamas’s internal operations.
This latest round of sanctions is part of a broader effort by the U.S. and its allies to limit Hamas’s ability to raise and move money. Since the attack on Israel a year ago, the U.S. has worked closely with other countries to coordinate sanctions against Hamas and its supporters. These sanctions are designed to limit the group’s ability to finance its activities and prevent future acts of violence.
While the U.S. continues to take action against Hamas, the Israeli-Palestinian conflict has seen heavy civilian casualties on both sides. The U.S. government has expressed its condolences for the lives lost, particularly those of innocent civilians. President Joe Biden and Vice President Kamala Harris issued separate statements marking the anniversary of the attack, mourning the lives lost in both the initial assault and the subsequent Israeli military campaign.
Since the war began, the death toll has been devastating. Over 41,900 Palestinians have lost their lives in the ongoing conflict, most of them civilians. Despite the heavy toll, both the U.S. and Israel remain focused on weakening Hamas and preventing future attacks. The new sanctions are a key part of this strategy, as they aim to cut off the financial support that fuels the group’s operations.
By targeting individuals, charities, and banks that are connected to Hamas, the U.S. hopes to weaken the group’s ability to continue its violent campaign against Israel. These sanctions are just one of many steps being taken by the U.S. and its allies to disrupt Hamas’s financial networks and prevent further violence in the region.
