Since the Hamas attack on Israel on October 7, the US has made massive efforts to cut off funding the Palestinian militia. Last week the Treasury’s Office of Foreign Asset Control put ten sanctions on institutions that have supported Hamas. These institutions were already 8nder investigation, but no actions were taken until these attacks.
Controlling these funds however will be a very tricky tasks as much of that funds that are sent to Gaza are done though charities and legitimate support for civilians. There funds will be much more difficult to control that money going directly to Hamas groups. This has made it difficult for countries, including the US, to be able to intervene. Aside from charitable donations, funds also come from taxes places in products, some of which come from outside the strip. Iran is one of the major funders for Gaza. There has been great push to control the export of oil out of Iran however the problem with this is that China is Iran biggest buyer. This could also raise oil prices around the world if the supply was cut down. To not become everyone’s enemy, going down the financial route would be much cleaner especially as when an institution if flagged, all money that comes in and out will be tracked.
Source: https://www.cnbc.com/2023/10/25/hamas-funding-sanctions-treasury.html
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