The US Treasury Department announced on Tuesday that it sanctioned a Hamas official and individuals and companies that launder and conceal funds for the terror group.

Hamas’ Investment Office oversees the funding network of over $500 million in companies in Turkey, Saudi Arabia, the United Arab Emirates, Algeria, and Sudan.

“Today’s action targets the individuals and companies that Hamas uses to conceal and launder funds,” said Assistant Secretary of the Treasury for Terrorist Financing and Financial Crimes Elizabeth Rosenberg.

“Hamas has generated vast sums of revenue through its secret investment portfolio while destabilizing Gaza, which is facing harsh living and economic conditions. Hamas maintains a violent agenda that harms both Israelis and Palestinians.”

“The United States is committed to denying Hamas the ability to generate and move funds and to holding Hamas accountable for its role in promoting and carrying out violence in the region.”

(YWN Israel Desk – Jerusalem)