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The Treasury department has announced new sanctions targeting Hamas’s financial network on the anniversary of their attack on Israel.
What’s the deal: According to a readout released by the Treasury, new sanctions were leveled against key components of Hamas’s financial network, including a fake charity, three individuals, and a Hamas-controlled financial institution in Gaza.
More on the fake charity: The U.S. Treasury revealed that the “Charity Association of Solidarity with the Palestinian People,” an Italy-based organization, falsely claimed to raise funds for humanitarian aid in Gaza but was actually channeling money to Hamas’s military wing. Founded by Mohammad Hannoun, an Italy-based Hamas member, the charity had funneled at least $4 million to Hamas-controlled entities since 2018, exploiting Gaza’s problems to solicit donations under false pretenses.
More on the Hamas bank: The U.S. Treasury also sanctioned Al-Intaj Bank, a Hamas-controlled financial institution in Gaza, for financing Hamas operations. Founded in 2013, this unlicensed bank operates outside the global banking system, providing financial services to Hamas while bypassing international sanctions. Despite lacking a license from the Palestine Monetary Authority, it was permitted to operate by the Hamas-led administration in Gaza, serving as a financial hub for the group’s activities.
More on the key individuals sanctioned:
Hamid Abdullah Hussein al Ahmar: The Treasury sanctioned Yemeni national Hamid Abdullah Hussein al Ahmar, based in Turkey, for being a key international supporter of Hamas. He managed Hamas’s secret investment portfolio, once valued at over $500 million, providing significant financial backing while enabling its leaders to live in luxury. Since 2013, al Ahmar has chaired the Lebanon-based Hamas front charity, Al-Quds International Foundation, previously sanctioned for its Hamas ties. Al Ahmar and his nine businesses across Yemen, Turkey, Lebanon, and Czechia were also sanctioned for materially supporting Hamas’s terrorist operations.
Majed al-Zeer: A senior Hamas representative in Germany, played a key role in coordinating fundraising efforts across Europe, working publicly with other high-ranking Hamas officials to generate financial support for the group.
Treasury reacts: In a statement, Treasury Secretary Janet Yellen said, “As we mark one year since Hamas’s brutal terrorist attack, Treasury will continue relentlessly degrading the ability of Hamas and other destabilizing Iranian proxies to finance their operations and carry out additional violent acts. The Treasury Department will use all available tools at our disposal to hold Hamas and its enablers accountable, including those who seek to exploit the situation to secure additional sources of revenue.”
