NYC Gazette

(Washington, DC): Congressman George Santos (NY-03) proudly cosponsored H.R. 340, A.KA. the Hamas International Financing Prevention Act, a bill that would impose sanctions on foreign persons, agencies, and governments that assist Hamas, the Palestinian Islamic Jihad (PIJ), or their affiliates.

“Threats from violent Islamic radicals like Hamas and the Palestinian Islamic Jihad continue to be directed at Israel, our main ally and the sole democracy in the Middle East,” says Congressman George Santos. “These organizations have a history of attacking defenseless Israeli civilians, and these terrorists have also slain numerous Americans and allies. I am and always will be dedicated to seeing that we isolate and punish extreme terrorist organizations like Hamas and PIJ by severing their financial ties.”

Background on H.R. 340:

(Courtesy of Rep. Gottheimer’s official website)

• The Hamas International Financing Prevention Act requires the President to submit to Congress an annual report for the next three years identifying foreign persons, agencies or instrumentalities of a foreign state who knowingly and materially assist Hamas, the Palestinian Islamic Jihad, or an affiliate or successor of one of those organizations. 

• After identifying the organizations, the President must impose two or more sanctions, including denying
  • Export-Import guarantees; 
  • Defense support under the Arms Export Control Act; 
  • Export of munitions to any agreement to which a person identified is a part;
  • Export of goods or technology controlled for national security reasons;
  • Loans more than $10 million; and 
  • Seizure of property held within the United States.
• The bill also requires the President to report to Congress on each government that provides support for acts of terrorism and provides material support to Hamas, the Palestinian Islamic Jihad, or any affiliate or successor organization, or the President determines to have engaged in a significant transaction to knowingly and materially provide support to Hamas, the Palestinian Islamic Jihad or any affiliate or successor organization. 
• After identifying the governments, the President must suspend U.S. assistance to that government for one year, instruct the executive directors of each international finance institution to vote against any loan or technical assistance to that government and prohibit any munitions export to that government for one year. 
• Additionally, the President must prohibit that government’s transactions in foreign exchanges that are subject to the jurisdiction of the United States and prevent that government’s transfers of credits or payments between financial institutions subject to the jurisdiction of the United States.

Original source can be found here.