Turkish fund denies supporting Hamas after US sanctions move

An aerial view of hundreds of people staging a demonstration to express their solidarity with Palestinians and protest Israel’s airstrikes on Gaza, at Beyazit square in Istanbul, Turkiye on October 20, 2023. [Muhammed Enes Yıldırım/Anadolu Agency]

Turkish real estate investment fund Trend GYO responded to the US imposition of sanctions on three of its shareholders on the grounds of providing aid to Hamas, saying yesterday it does not provide financial support to any organisation, Reuters reports.

On Friday, the US issued a second round of sanctions aimed at the Palestinian resistance group Hamas following its attack this month on Israel, including a Hamas official in Iran and members of Iran’s Islamic Revolutionary Guard Corps (IRGC).

The US Treasury Department statement also designated what it said were the three primary shareholders of Trend GYO TDGYO.IS, including its chairman and a board member.

Trend GYO said it was established with foreign capital and is a profit-oriented institution subject to regular audit by Turkiye’s Capital Markets Board that acts in accordance with the principle of transparency.

“Our company does not provide financial support to any organisation and it is impossible for it to do so, given the laws which it is subject to,” the statement said.

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