Problem Solvers Caucus endorses legislation to sanction Hamas’ financers after uptick in crypto donations
WASHINGTON, D.C. — The Problem Solvers Caucus endorsed the Hamas International Financing Prevention Act, bipartisan legislation that would establish financial sanctions on foreign persons, agencies, and governments that assist Hamas, the Palestinian Islamic Jihad (PIJ), or their affiliates. Earlier this year, reporting revealed a surge in cryptocurrency donations to Hamas, circumventing international sanctions.
Problem Solvers Caucus Co-Chair Josh Gottheimer (NJ-05) and Congressman Van Taylor (TX-03) brought the bill for endorsement, which garnered the support of more than 75 percent of the Caucus.
“I’m honored that the Problem Solvers Caucus endorsed my bipartisan legislation, the Hamas International Financing Prevention Act. With their support, the Caucus reinforced just how critical it is that the United States and our allies continue to isolate terrorist groups including Hamas and Palestinian Islamic Jihad and cut them off at the source,” Gottheimer said. “This bill will strengthen sanctions to weaken these terrorist organizations which threaten our key ally Israel, undermine peace, and further destabilize the Middle East. I hope Congress will come together to pass this critical piece of legislation in our fight against terror.”
“Foreign support to Hamas and its affiliate militant groups undercut our nation’s efforts to promote peace and stability throughout the Middle East,” said Problem Solvers Caucus Co-Chair Brian Fitzpatrick (PA-01). “The bipartisan Hamas International Financing Prevention Act sends a clear message that the United States will not tolerate individuals and institutions who provide financial support to terrorist organizations like Hamas.”
“I applaud the Problem Solvers Caucus for endorsing the bipartisan Hamas International Financing Prevention Act,” said Rep. John Katko (NY-24). “Earlier this year, Israel again came under attack from a barrage of rocket attacks launched by well-funded terrorist organizations including Hamas and the Palestinian Islamic Jihad. This bill imposes sanctions on foreign persons and governments that assist these organizations, preventing the evasion of existing sanctions and more effectively cutting off funding for terrorism. It’s a commonsense measure that takes the necessary steps to protect the state of Israel.”
The Hamas International Financing Prevention Act requires that Congress receive an annual report from the president for the next three years, identifying persons, agencies, and instruments of a foreign state who knowingly assist Hamas or other terrorist organization and their affiliates in the Gaza Strip. After identifying these organizations, the president must impose two or more sanctions.
The administration will also be required to report on governments that knowingly provide support to Hamas and other terrorist organizations, suspend assistance from the United States and instruct executive directors of each international financial institution to vote against any loan or technical assistance to that government. It is also required to prohibit any munitions exports to that government for one year.
