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The Palestinian militant group Hamas use a global financing network to channel support from charities and friendly nations, passing cash through the tunnels of Loop or using cryptocurrencies to circumvent international sanctions, according to experts and officials.
However, Hamaswhich governs the Gaza Stripwill face greater obstacles in accessing funds following the massacre of hundreds of Israelis, mostly civilians, by the group’s gunmen. Israel has responded with the greatest bombardment of Loop in 75 years of conflict.
Earlier this week, Israeli police reported that they had frozen a bank account of Barclays which, according to authorities, was linked to the fundraising of Hamas and blocked cryptocurrency accounts used to collect donations, without specifying how many accounts or the value of the assets.
The measure provided a glimpse into a complex financial network, partly legitimate and largely hidden, that supports Hamaseither Islamic Resistance Movementand his government in Gaza Stripwhich he has directed since 2007.
Matthew Levitta former US anti-terrorism official, estimated that most of the US budget Hamasof more than 300 million dollars, came from taxes on companies, as well as from countries such as Iran and Qatar or charities.
Last February, the Department of State I affirm that Hamas raise funds in other countries Gulf and obtains donations from Palestinians, other expatriates and its own charities.
Reuters unable to contact officials Hamas to comment for this article. In the past, Hamas has said that the financial restrictions imposed on its donors were an attempt to neutralize legitimate resistance against Israel.
Hamassanctioned as a terrorist organization by USA and countries like Britainhas increasingly used cryptocurrencies, credit cards or artificial trade agreements to avoid growing international restrictions, he said Levitt.
“Hamas has been one of the most successful users of cryptocurrencies for terrorist financing“, said Tom Robinsonco-founder of the research firm blockchain Elliptic.
However, this year Hamas said he would walk away from cryptocurrencies after a series of losses. The cryptocurrency accounting system allows these types of transactions to be tracked.
The researchers of Blockchain TRM Labs They said this week in a research note that crypto fundraising has previously increased following rounds of violence involving Hamas. Following the May 2021 clashes, cryptocurrency addresses controlled by Hamas They received more than $400,000, according to TRM Labs.
However, since last weekend’s violence, prominent support groups linked to Hamas had moved only a few thousand dollars through crypto, he noted TRM.
“A likely reason for the low volume of donations is that Israeli authorities are immediately targeting them“, said TRMand added that Israel had seized cryptocurrency worth “tens of millions of dollars” from addresses linked to Hamas in recent years.
Between December 2021 and April of this year, Israel seized nearly 190 cryptocurrency accounts that it said were linked to Hamas.
Ships and shells
Whether through crypto or other means, allies of Hamas have found ways to get money to Loop. He Department of State of USA has stated that Iran provides up to $100 million annually in support of Palestinian groups, including Hamasand has cited methods of moving money through shell companies, maritime transactions and precious metals.
Iranian authorities did not immediately respond to a request for comment.
Last year, Hamas had established a secret network of companies that managed $500 million worth of investments in companies since Türkiye until Saudi Arabiaas stated by the United States Treasurywhich announced sanctions against these companies in May 2022.
Israel has long accused Iran’s clerical leaders of stoking violence by supplying weapons to Hamas. Tehranwhich does not recognize Israelstates that it provides moral and financial support to the group.
Support for the Palestinian cause has been a pillar of the Islamic Republic since the 1979 revolution and a way for the country to establish itself as a leader in the Muslim world.
Qatarrich in gas, has also paid hundreds of millions of dollars to Loop since 2014, at one point spending $30 million a month to help operate the enclave’s only power plant and to support needy families and public officials in the government led by Hamas.
“Qatari aid provides $100 to poorest Palestinian families, extends electricity period for one day in Gaza“said a Qatari official in response to a government request for comment, adding that it had helped “maintain the stability and quality of life of…Palestinian families”.
Qatar It walks a tightrope in foreign policy, hosting the region’s largest US military base, the Taliban and other groups, often allowing it to mediate.
Money talks
The financing that Qatar intended for Loop actually goes through Israelaccording to a source familiar with the process.
Funds are transferred electronically from Qatar to Israel. Israeli officials and UN take the cash to Loop across the border.
The money is distributed directly to needy families and public officials in Loop, and each family or individual must sign next to their name that they have received the money. A copy of that sheet will Israelanother to the UN and another to Qatar.
“Qatari aid to the Gaza Strip is fully coordinated with Israel, the UN and the United States”declared the Qatari government official.
In recent years, Qatar bought fuel from Israel for the only power plant in Loop. He also sent Egyptian fuel that Hamas you can resell, using the proceeds for salaries.
Stephen Reimerof the Royal United Services Institute, predicted that further attempts to completely restrict the group’s access to formal financial channels would have limited success. “Their financing tactics have grown to elude them”.
(C) Reuters.-
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