October 8, 2024 | Flash Brief

U.S. Treasury Sanctions Additional Hamas Financiers on First Anniversary of October 7 Massacre

October 8, 2024 | Flash Brief

U.S. Treasury Sanctions Additional Hamas Financiers on First Anniversary of October 7 Massacre

Latest Developments

The U.S. Department of the Treasury’s Office of Foreign Assets Control “designated three individuals and one sham charity that are prominent international financial supporters of Hamas” as well as a Hamas-controlled bank in Gaza on October 7. The designation marked the Treasury’s eighth tranche of sanctions against Hamas financiers since the 2023 terrorist attack in southern Israel.

“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,” Secretary of the Treasury Janet Yellen said. Treasury assessed that Hamas may raise as much as $10 million a month through sham charities.

Expert Analysis

“Every day is October 7 for a family member of a hostage. Treasury should be imposing sanctions on a rolling basis on Hamas-connected entities in Qatar and Turkey to turn up the pressure.” — Richard Goldberg, FDD Senior Advisor

“The Treasury sanctions are a good reminder that Hamas operates non-profits to raise funds and fight against Israel. Some of these groups have even risen to prominence among the supposed human rights crowd. This is just another front for Hamas and other Palestinian terrorist groups seeking to destroy Israel.” — David May, FDD Research Manager and Senior Research Analyst

Charities and Non-Profits Key to Hamas Fundraising

Treasury designated Hamid al-Ahmar, a Yemeni national and a key member of Hamas’s investment portfolio who runs the League of Parliamentarians for Al-Quds and Palestine, a non-governmental organization based in Turkey. Al-Ahmar was also designated for his support of Al-Quds International Foundation, a Hamas-run charity. Treasury also sanctioned Mohammad Hannoun, Majed al-Zeer, and Adel Doughman for fundraising on behalf of Hamas in Europe. Al-Zeer was the president of the UK-based nonprofit Palestinian Return Centre from its inception in 1996 until 2021.

10 Things Washington Should Do to Hold Hamas Accountable,” by Richard Goldberg

U.S., UK Impose New Sanctions on Hamas Finance Officials and Representatives,” FDD Flash Brief

Sanction the Hamas nongovernmental organization in Turkey,” by Jonathan Schanzer and Sinan Ciddi

Dutch Authorities Catch Hamas Financier Red-Handed,” by David May and Melissa Sacks

Issues:

Issues:

Israel Israel at War Sanctions and Illicit Finance

Topics:

Topics:

Europe Gaza City Hamas Iran Israel Janet Yellen Jerusalem Office of Foreign Assets Control Palestinians Qatar State of Palestine Treasury Turkey United Kingdom United States Department of the Treasury Yemen