The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed a fifth round of sanctions on Hamas since the October 7 terrorist attack on Israel.
According to OFAC, the sanctions have targeted Hamas-affiliated financial exchanges in Gaza, their owners and associates, and financial facilitators that have played roles in funds transfers, including crypto transfers, from the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) to Hamas and Palestinian Islamic Jihad (PIJ) in Gaza. Concurrent with OFAC’s designations, the United Kingdom and Australia are also placing sanctions on key Hamas officials and facilitators.
The sanctions are said to build upon the recent joint designations with the United Kingdom on December 13 and November 14, targeting Hamas leaders and financiers, as well as U.S. actions on October 27, targeting sources of Hamas support and financing; October 18, targeting Hamas operatives and financial facilitators; and May 2022, designating officials and companies involved in managing Hamas’s secret international investment portfolio. Individuals and entities targeted today are being designated pursuant to Executive Order (E.O.) 13224, as amended, which targets terrorist groups and their supporters.
“Hamas has sought to leverage a variety of financial transfer mechanisms, including the exploitation of cryptocurrency, to channel funds to support the group’s terrorist activities,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson. “Treasury, in close coordination with our allies and partners, will continue to leverage our authorities to target Hamas, its financiers, and its international financial infrastructure.”