/cloudfront-us-east-2.images.arcpublishing.com/reuters/HY7C6LUZVROE5EKND3YKWDNF7A.jpg "US sanctions seek to disrupt Hamas’ revenue, US Treasury says")
US sanctions seek to disrupt Hamas’ revenue, US Treasury says
[1/2]A bronze seal for the Department of the Treasury is shown at the U.S. Treasury building in Washington, U.S., January 20, 2023. REUTERS/Kevin Lamarque/File Photo Acquire Licensing Rights
WASHINGTON, Oct 18 (Reuters) – The Biden administration issued sanctions on Wednesday aimed at disrupting Hamas’ funding, singling out what it said was “a secret Hamas investment portfolio,” a financial facilitator tied to Iran and a Gaza-based cryptocurrency exchange, among other targets.
The sanctions, imposed under a terrorism-related executive order, targeted nine individuals and one entity based in Gaza and elsewhere including Sudan, Turkey, Algeria and Qatar, the U.S. Department of Treasury said in a statement.
“The United States is taking swift and decisive action to target Hamas’s financiers and facilitators following its brutal and unconscionable massacre of Israeli civilians, including children,” said Treasury Secretary Janet Yellen.
“We will continue to take all steps necessary to deny Hamas terrorists the ability to raise and use funds to carry out atrocities and terrorize the people of Israel,” Yellen added.
Treasury’s actions come as U.S. President Joe Biden visited Israel and met with Israeli Prime Minister Benjamin Netanyahu following the Oct. 7 attack by Hamas, the Palestinian militant group.
The sanctions included a Gaza-based crypto business, called “Buy Cash Money and Money Transfer Company”, which provides money transfer and virtual currency exchange services, including the cryptocurrency bitcoin, the Treasury’s statement said.
The firm has also been used to transfer funds by other terrorist groups, Treasury said.
The company did not immediately respond to a Reuters request for comment sent by email.
Blockchain research firm Elliptic said that crypto wallets controlled by “Buy Cash Money and Money Transfer Company” have received more than $25 million in cryptocurrencies since 2015.
Earlier on Tuesday, 105 U.S. lawmakers sent a letter to the U.S. Treasury Department and the White House expressing “grave concern” that Hamas and an affiliated group called Palestinian Islamic Jihad were using digital assets to fund their operations and evade U.S. sanctions.
Reporting by Susan Heavey, additional reporting by Elizabeth Howcroft; editing by Doina Chiacu and Rod Nickel
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