US secondary sanctions on foreign banks over Hamas funding are justified

Overview Debates Related claims Topics Sources

United States federal prosecutors served a Patriot Act subpoena on a Chinese bank laundering funds for North Korea, using the threat of terminating the bank's correspondent banking access to enforce compliance

The United States government seized over 10 billion dollars in proceeds from the Cambodian-linked transnational criminal organization Prince Group through sanctions, prosecution, and forfeiture

In early September 2026, the U.K. banned imports from Israeli settlements in the West Bank and announced sanctions on individuals and companies involved in constructing them

Avigdor Liberman, leader of Israel Beytenu, accused Benjamin Netanyahu of preparing a sanctions-bypassing economy instead of preventing diplomatic isolation and promised to eliminate sanction threats if elected

Tether froze $131 million in crypto wallets tied to Iran's central bank and armed forces following United States sanctions in July 2026

Israeli Prime Minister Benjamin Netanyahu stated in a Channel 10 interview broadcast Friday, October 23, 2026, that he requested a plan using blockchain technology and alternative currencies to counter potential international banking sanctions

Russia's ruble-pegged A7A5 token moved approximately $102 billion in its first year before international sanctions and exchange disruptions reduced its daily transaction volume by 96 percent

Over 60 Israeli economists and former officials warned that measures by 12 countries led by the UK targeting West Bank settlements could spread to the broader Israeli economy and raise the cost of living

Former Bank of Israel banking supervisor Yair Avidan warned that foreign banks might cease providing correspondent services to Israeli counterparts, severing Israel's international economic activity

The Jewish People Policy Institute recorded 139 sanctions, restrictions, and diplomatic measures against Israel across 64 countries and entities as of October 18, 2026

The U.S. Treasury Department imposed sanctions on the A7 Network on October 1, 2026, alleging its payment infrastructure facilitated transactions for sanctioned Russian and Iranian entities.

The U.S. Treasury Department imposed full blocking sanctions on Sberbank in April 2022 under Executive Order 14024

A New York Times article reported on a "dire economic crisis" in Iran resulting from sanctions, including "Operation Economic Outcast."

U.S. Treasury Secretary Scott Bessent described the U.S. policy toward Iran as an absolute isolation campaign involving maritime blockades at the Strait of Hormuz, flight restrictions, and land route closures

The U.S. Department of the Treasury launched Operation Economic Outcast on August 24, 2026, designating digital assets alongside technology, gold, aviation, and shipping as Iranian economic sectors subject to sanctions

Under Operation Economic Outcast, the U.S. Department of the Treasury has designated nearly 60 entities, individuals, and vessels, including actions targeting remnants of Iran's shadow fleet of oil tankers

U.S. Treasury Secretary Scott Bessent stated that the economic isolation campaign against Iran has caused internal panic within the Islamic Revolutionary Guard Corps

Senator Richard Blumenthal's inquiry requested that Cantor Fitzgerald explain how it monitors Tether's compliance with banking and sanctions laws, and details of steps taken to investigate allegations of illicit finance and sanctions evasion

Binance stated it maintains a zero-tolerance policy toward sanctions violations and pointed to its offboarding of accounts linked to sanctions-related suspicious activity in August 2025 and January 2026

The Department of Justice's review of Binance Holdings Ltd. is focused on potential violations of US sanctions against Iran