The US Treasury on Wednesday imposed sanctions on 10 Hamas members, operatives, and financial intermediaries — including a prominent commander — in the midst of the ongoing confrontation following Hamas's unexpected attack on Israel.
The new sanctions target individuals based in Gaza and elsewhere, including Sudan, Turkey, Algeria and Qatar, the department said in a statement.
"The United States is taking swift and decisive action to target Hamas's financiers and facilitators following its brutal and unconscionable massacre of Israeli civilians, including children," said Treasury Secretary Janet Yellen in a statement.
Hamas launched a surprise assault inside Israel on October 7, killing 1,400 people, mostly civilians.
After Israel declared war, nearly 3,500 people have been killed in the Gaza Strip, mostly civilians as well, according to Hamas health authorities.
More than 12,000 Palestinians have been wounded in Israel's response.
The sanctions come as President Joe Biden visits Tel Aviv on Wednesday to show support for Israel.
"The US Treasury has a long history of effectively disrupting terror finance and we will not hesitate to use our tools against Hamas," Yellen added.
She said that Washington will "continue to take all steps necessary" to deny Hamas the ability to raise funds for carrying out "atrocities."
The United States has previously designated Hamas as a terrorist organisation.
To date, the Treasury said it has taken aim at nearly 1,000 individuals and entities connected to terrorism and terrorist financing by the Iranian regime and proxies including Hamas and Hezbollah.
"In addition to the funds Hamas receives from Iran, its global portfolio of investments generates vast sums of revenue through its assets, estimated to be worth hundreds of millions of dollars," the Treasury said.
Among those designated on Wednesday are six people associated with a Hamas "secret investment portfolio."
They include Musa Muhammad Salim Dudin, a member of Hamas's Political Bureau; as well as Abdelbasit Hamza Elhassan Mohamed Khair, a Sudan-based Hamas financier.
Two "senior Hamas officials," were also targeted: Muhammad Ahmad 'Abd Al-Dayim Nasrallah based in Qatar and Ayman Nofal, who was allegedly killed in an airstrike on Tuesday, the Treasury said.
The department also took aim at a Gaza-based virtual currency exchange, alongside its operator.
"Hamas often relies on small-dollar donations, including through the use of virtual currency," said the Treasury in its latest statement.
As a result of the sanctions, the property of designated individuals in the US must be blocked and reported, alongside other restrictions.
Financial institutions engaging in certain transactions with sanctioned entities or individuals could also expose themselves to enforcement action.