The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated two individuals and three entities as key financial facilitators involved in fundraising for Hamas, imposing sanctions on the individuals and the identified entities.
In the wake of the October 7, 2023 war launched by Hamas against Israel, ‘Gaza Now’ began fundraising efforts to support Hamas.
Gaza Now and its founder Mustafa Ayash, as well ‘Al-Qureshi Executives’ and ‘Aakhirah Limited’, and their director Aozma Sultana, partnered on multiple fundraising efforts for Hamas.
“This action is being taken as part of a collaborative effort with the United Kingdom’s Office of Financial Sanctions Implementation, which is implementing sanctions on these same targets,” The US Treasury Department announced Wednesday (March 27).
“Treasury remains committed to degrading Hamas’ ability to finance its terrorist activities, including through online fundraising campaigns that seek to funnel money directly to the group,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson.
“The United States, in close coordination with our British partners, will continue to leverage our tools to disrupt Hamas’ ability to facilitate further attacks.”
The United States and United Kingdom have already conducted three coordinated sanctions actions related to Hamas fundraising efforts since October 7, 2023.
Those sanctions included a November 14, 2023 action against Hamas leaders and financiers, a December 13, 2023 action against additional Hamas financial officials and representatives, and a January 22, 2024 action by the US, UK, and Australia against additional Hamas financial networks and facilitators of virtual currency transfers.
A Hamas-Aligned Fundraising Network
After the October 7 terrorist attack, online entity Gaza Now began a fundraising effort in support of Hamas.
Gaza Now is being designated pursuant to Executive Order (E.O.) 13224, as amended, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Hamas, a person whose property and interests in property are blocked pursuant to E.O. 13224.
“The Office of Foreign Assets Control (OFAC) is designating Gaza Now’s founder and director, Mustafa Ayash, pursuant to E.O. 13224, as amended, for owning or controlling, directly or indirectly, Gaza Now,” the Treasury said.
Aozma Sultana (Sultana) is the director and sole officer of Al-Qureshi Executives and Aakhirah Limited.
Sultana and these two companies have given thousands of dollars to Gaza Now and advertised Gaza Now as a partner during a joint fundraiser shortly after the October 7 terrorist attack.
OFAC is designating Sultana pursuant to E.O. 13224, as amended, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of Gaza Now.
OFAC is designating Al-Qureshi Executives and Aakhirah Limited pursuant to E.O. 13224, as amended, for being owned, controlled, or directed by Sultana.
Sanctions Implications
As a result of today’s action, all property and interests in property of the designated persons described above that are in the United States or in the possession or control of US persons are blocked and must be reported to OFAC.
In addition, any entities that are owned, directly or indirectly, individually or in the aggregate, 50 percent or more by one or more blocked persons are also blocked.
“Unless authorized by a general or specific license issued by OFAC, or exempt, OFAC’s regulations generally prohibit all transactions by US persons or within (or transiting) the United States that involve any property or interests in property of designated or otherwise blocked persons,” Treasury explained.
“Furthermore, engaging in certain transactions with persons designated today entails risk of secondary sanctions pursuant to E.O. 13224, as amended.
“Pursuant to this authority, OFAC can prohibit or impose strict conditions on the opening or maintaining in the United States of a correspondent account or a payable-through account of a foreign financial institution that knowingly conducted or facilitated any significant transaction on behalf of a Specially Designated Global Terrorist.”
In addition, non-US financial institutions and other persons that engage in certain transactions or activities with sanctioned entities and individuals may expose themselves to sanctions risk or be subject to an enforcement action.
The prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any designated person, or the receipt of any contribution or provision of funds, goods, or services from any such person.
The power and integrity of OFAC sanctions derive not only from OFAC’s ability to designate and add persons to the SDN List, but also from its willingness to remove persons from the SDN List consistent with the law.
“The ultimate goal of sanctions is not to punish, but to bring about a positive change in behavior,” the statement said.
“Treasury remains committed to enabling the flow of legitimate humanitarian assistance supporting the basic human needs of vulnerable populations, while continuing to deny resources to malicious actors.
“Accordingly, OFAC sanctions programs contain provisions for legitimate humanitarian support to vulnerable populations, including authorizations for certain humanitarian transactions in support of nongovernmental organizations’ activities.
“On November 14, 2023, OFAC issued a Compliance Communique which provides additional guidance for the provision of humanitarian assistance to the Palestinian people.”
