Israel has imposed economic sanctions on 20 individuals and organizations accused of laundering money for Hamas. Israel’s Defense Minister Benny Gantz signed an order imposing the sanctions on Wednesday following a joint operation conducted by the Israel Security Agency, National Bureau for Counter Terror Financing (NBCTF) in the Ministry of Defense, and the IDF’s Intelligence Directorate. The companies operate primarily real estate and infrastructure projects in Sudan, Turkey, the United Arab Emirates, Saudi Arabia and Algeria,
Hamas manages investments worth hundreds of millions of dollars through an international network of shell companies, according to a statement from Gantz’s office. “Our policy is clear: we will continue to support the transfer of funds to civilians (ion Gaza) while stopping any attempt to funnel money invested in Hamas’ terror infrastructure and force buildup,” according to the statement.
Hamas has been designated by the United States as a Foreign Terrorist Organization since 1997.