WASHINGTON: The United States on Tuesday imposed sanctions on a Hamas finance official and a network of financial facilitators and companies that have generated revenue for the Palestinian militant group, the Treasury Department said.

The sanctions target Hamas’ Investment Office, which holds assets estimated to be worth more than $500 million.

“Hamas has generated vast sums of revenue through its secret investment portfolio while destabilizing Gaza, which is facing harsh living and economic conditions,” said Elizabeth Rosenberg, Assistant Secretary of the Treasury for Terrorist Financing and Financial Crimes.

There was no immediate comment from Hamas, which rules the Gaza Strip and is deemed a terrorist group in the West and by Israel.

The Hamas official sanctioned is Abdallah Yusuf Faisal Sabri, a Jordanian national and accountant who has worked in Hamas’ finance ministry for several years, the Treasury Department said.

Reuters