US Treasury sanctions Turkish, British-based Muslim Brotherhood, Hamas financial networks

The US Treasury Department imposed new sanctions targeting financial networks linked to Hamas and the Muslim Brotherhood, including entities based in Turkey and the United Kingdom. The sanctions specifically name a Turkish trading company and Muslim Brotherhood affiliates accused of facilitating money flows to Hamas. This action is part of ongoing US efforts to disrupt terrorist financing channels following the October 7, 2023, Hamas attack on Israel. The Treasury stated that these networks have been used to move funds through shell companies and front organizations. The designations freeze any US-held assets and generally prohibit Americans from doing business with the targeted entities.

Global Impact

The sanctions have immediate economic implications for Turkey, potentially straining its already fragile currency and increasing capital outflow risks. Politically, they deepen US-Turkey tensions, as Ankara has previously resisted US pressure on Hamas-related financing.