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ZEC $1,309 US expands Hamas sanctions after tracing crypto transfers from France
OFAC added two French charities and three individuals, saying two fundraisers sent hundreds of thousands of dollars in crypto to a Hamas commander.
Key takeaways
- The crypto figure is separate. Treasury tied hundreds of thousands of dollars in cryptocurrency to two France-based fundraisers, not the full $2 million raised.
- Reporting clocks apply. A US-regulated crypto firm that finds blocked assets must report them to OFAC within 10 business days.
- Ownership rule widens scope. The blocking rule also covers companies owned 50% or more by blocked persons, not just the five names listed.
What happened
The US Treasury's Office of Foreign Assets Control added two French charities and three people to its sanctions list on Oct. 2. The charities are Association Baraka and Ensemble C Mieux, and the individuals are Faouzi Barika, Amel Oualid and Saleem Abdallah Saleem al-Zaq.
Treasury alleges Barika and Oualid, both based in France, sent hundreds of thousands of dollars in cryptocurrency to al-Zaq, whom the agency described as a Gaza-based deputy battalion commander in Hamas' military wing. Treasury says the two fundraisers and associated organizations collected more than $2 million for Hamas between 2020 and 2026, but it did not say the entire $2 million moved through digital assets.
Why it matters
US exchanges, custodians and payment processors must block property in which the designated parties have an interest when it comes under their control, unless an OFAC license or exemption applies. A US-regulated crypto company that identifies blocked assets must deny access and report the property to OFAC within 10 business days.
The blocking requirement also reaches companies owned 50% or more, directly or indirectly, by one or more blocked persons, so compliance teams may need to identify entities beyond the five names Treasury published. Treasury warned that foreign financial institutions could face secondary sanctions for knowingly facilitating significant transactions for designated parties.
What the data shows
Treasury put the broader fundraising at more than $2 million for the period from 2020 to 2026. It attributed hundreds of thousands of dollars in cryptocurrency transfers to Barika and Oualid, a figure it kept separate from the $2 million total.
What is still unclear
- Treasury did not say that the entire $2 million was transferred using digital assets, so the size of the crypto share remains unclear.
- Enforcement does not amount to a worldwide freeze on every blockchain transaction connected to the sanctioned parties and depends on jurisdiction, ownership and the involvement of blocked property.
- It is also not yet known whether US authorities will publish or identify more wallet addresses, intermediaries or entities tied to the network.
Questions readers ask
Who did the US sanction?
OFAC added Association Baraka, Ensemble C Mieux, Faouzi Barika, Amel Oualid and Saleem Abdallah Saleem al-Zaq to its sanctions list on Oct. 2.
How much cryptocurrency was allegedly sent to Hamas?
Treasury alleges Barika and Oualid sent hundreds of thousands of dollars in crypto to al-Zaq, and that the two fundraisers and their groups raised more than $2 million for Hamas from 2020 to 2026.
What must US crypto exchanges do with blocked assets?
They must block property of designated parties that comes under their control and report identified assets to OFAC within 10 business days, unless a license or exemption applies.
