The Treasury Department said it had dismantled a major Hamas financing network operating across Europe and through cryptocurrency channels. Designations under Executive Order 13224 target Saleem al-Zaq, described as a Germany-based operative who funneled money to the group; Oualid Barika and his son, who control a France-based charity that moved funds to Hamas; and individuals running what Treasury described as a sophisticated crypto-based transfer scheme.
The action was taken in coordination with the FBI, signaling a law-enforcement track alongside the sanctions track. Treasury framed the network as a significant funding pipeline but did not publish a dollar figure for the disrupted flows.
The designations land alongside a broader enforcement wave: separate actions against an Iran-linked sanctions-evasion network under Operation Economic Outcast and a Tren de Aragua financial network, plus a third round of sanctions removals under the department’s modernization initiative. The net posture is sharper targeting of illicit networks with simultaneous delisting hygiene.