US & Allies Form Task Force to Defund Hamas

( – As tensions between Israel and the terrorist group Hamas continue to simmer, even with the recent release of several hostages, the United States, along with several of its allied nations, are trying to fight Hamas on a different front—an economic one.

In a statement released by the U.S. Treasury Department, the countries involved will be forming a task force that will share financial intelligence on terrorist funding and determine the appropriate solutions and best practices to act on such intelligence. The core mission of the task force will be to “detect, disrupt, and prevent the financing of terrorism,” the statement read.

The U.S. has already issued several sanctions against Hamas following the latter’s devastating October 7 attack against Israel—sanctions that have included attacks on the terrorist organization’s investment portfolio. The U.S. has also issued warnings and alerts to financial institutions to help counter Hamas’ efforts to finance its operations. The establishment of the task force is expected to expand and enhance efforts to defund Hamas.

Along with elements from U.S. intelligence, similar contingents from the U.K., Canada, Australia, France, Germany, Estonia, Israel, Luxembourg, Liechtenstein, the Netherlands, New Zealand, and Switzerland will be joining the said task force.

Meanwhile, Israel and Hamas have reached a fragile truce as the latter released several of its hostages. Hamas has most recently released 11 Israeli hostages in exchange for Israel’s release of 33 Palestinian prisoners. The former hostages were released to Israeli forces in Gaza, while the former prisoners were driven to the larger Palestinian enclave in the West Bank. The truce has seen the release of a total of 50 Israeli hostages, along with 19 hostages from other countries. For its part, Israel has released 150 Palestinian prisoners.

The pause in hostilities has also allowed much-needed aid to flow into Gaza, where millions of civilians continue to endure the aftereffects of Israel’s weeks-long assault on the territory.

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