US targets secret investment portfolio of Hamas

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KUWAIT CITY, Oct 26: According to the American CNN news network, the United States is intensifying its efforts in the region to target a “secret” investment portfolio for the Hamas movement amounting to one billion US dollars and generating money for the organization, which is classified as a “terrorist”, according to the network’s statement, reports Al-Seyassah daily.

The network explained that the global portfolio includes companies operating under the guise of legitimate businesses in Sudan, Algeria, Turkey, the United Arab Emirates, and other countries.

After the Hamas attacks on October 7, American officials held an emergency meeting in Riyadh at the terrorist financing targeting center, which includes the United States and the Gulf Cooperation Council countries, to discuss procedural steps in this regard. This meeting was supposed to be held in November, but the attacks expedited it.

The US Treasury Undersecretary for Terrorism and Financial Intelligence Brian Nelson said, “After the attack, efforts have been redoubled using the Terrorist Financing Targeting Center, which was established in 2017, to pursue Hamas, Hezbollah, and other armed groups allied with Iran, including exchange of information.

The US Treasury Department imposed sanctions last week on individuals who manage assets in a secret Hamas investment portfolio whose value is likely to range between USD 400 million and USD 1 billion. The portfolio generates large amounts of revenue for Hamas.

We cannot tolerate a world in which Hamas and other terrorist organizations’ fundraisers live and operate with impunity, abusing the financial system, to sustain their terror.”

Nelson urged the Gulf states to exchange more information about the parts of Hamas’ financial system that are “vulnerable to disruption”, and called on the member states to take the necessary measures.

On the other hand, the news network revealed that the Financial Crimes Enforcement Network of the US Treasury Department last week put in place new rules targeting Hamas’ ability to use cryptocurrencies to raise money.

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