US Treasury imposes sanctions on Hamas official and financial network

US Treasury imposes sanctions on Hamas official and financial network
2 min read
25 May, 2022
The United States has imposed sanctions on a Hamas finance official and a network of financial intermediaries and companies that generate financial revenue for the Islamic Hamas movement.
The United States has imposed sanctions on a Hamas finance official and a network of financial intermediaries and companies that generate financial revenue for the Islamic Hamas movement. [Getty]

The United States has imposed sanctions on a Hamas finance official and a network of financial intermediaries and companies that generate financial revenue for the Gaza-run Islamic movement.

On Tuesday, Elizabeth Rosenberg, Assistant Secretary of the US Treasury for Terrorist Financing and Financial Crimes said in a press statement "the sanctions target Hamas' Investment Office, which holds assets estimated to be worth more than US$500 million, including companies operating in Sudan, Turkey, Saudi Arabia, and Algeria."

"Hamas has reaped huge revenues through its secret investment portfolio while destabilising Gaza, which is facing harsh living and economic conditions," the official added.

The Hamas official cited for sanctions was Abdullah Yousef Faisal Sabri, a Kuwait-based Jordanian national. He worked in the Hamas-run Finance Ministry for many years in Gaza.

The companies 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 statement said.

In the first comment on the sanctions, Sami Abu Zuhri, an official in the movement, denied the allegations of the United States.

In a statement to the press, Abu Zuhri said, "The American allegations are baseless and come in the context of aligning with the Israeli occupation and promoting its false allegations."

The New Arab reached out to Hamas in Gaza for further clarifications, but so far officials from the Islamic movement have refused to comment on the matter.

The United States considers Hamas, which has controlled the Gaza Strip since 2007, a terrorist movement.