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US sanctions Hamas official and financial network, Treasury Department says

May 24, 2022 at 6:47 pm

Elizabeth Rosenberg, US Treasury assistant secretary for terrorist financing on 22 June, 2021 [Stefani Reynolds/Bloomberg via Getty Images]

The United States, on Tuesday, imposed sanctions on a Hamas finance official and a network of financial facilitators and companies that have generated revenue for the Palestinian militant group, the Treasury Department said, Reuters reports.

The sanctions target Hamas’ Investment Office, which holds assets estimated to be worth more than $500 million, including companies operating in Sudan, Turkey, Saudi Arabia, Algeria and the United Arab Emirates, the Department said in a statement.

“Hamas has generated vast sums of revenue through its secret investment portfolio while destabilising Gaza, which is facing harsh living and economic conditions,” said Elizabeth Rosenberg, Assistant Secretary of the Treasury for Terrorist Financing and Financial Crimes.

There was no immediate comment from Hamas, which rules the Gaza Strip and is deemed a terrorist group in the West and by Israel.

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The Hamas official sanctioned is Abdallah Yusuf Faisal Sabri, a Kuwait-based Jordanian national and accountant who has worked in Hamas’ Finance Ministry for several years, the Treasury Department said.

The companies sanctioned included Sudan-based Agrogate Holding, Algeria-based Sidar Company, UAE-based Itqan Real Estate JSC, Turkey-based Trend GYO and Saudi Arabia-based Anda Company, the Department added.