US sanctions international network laundering funds for Hamas
In a move aimed at cutting off the militant group’s sources of revenue, the Treasury Department designated a Hamas official, three financial facilitators and six companies.
![al-Qassam Brigades](/sites/default/files/styles/article_hero_medium/public/2022-05/GettyImages-1238530839.jpg?h=a5ae579a&itok=Nd8ltE4w)
The Biden administration sanctioned on Tuesday what it described as a network of Hamas financial facilitators and companies across the Middle East that generate revenue for the Gaza-based militant group through a secret investment portfolio.
The Treasury Department’s Office of Foreign Assets Control said the expansive network is overseen by Hamas’ Investment Office, which holds more than $500 million worth of assets and operates companies in Sudan, Turkey, Saudi Arabia, Algeria and the United Arab Emirates.