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Russia has increased its imports of nitrocellulose, a key ingredient in the production of artillery ammunition, despite international sanctions. U.S., German, and Taiwanese companies have supplied nitrocellulose to Russia, with much of it being shipped through a Turkish company. The surge in imports is believed to be for military purposes, as Russia's economy has been reoriented for wartime production. The exports by Western companies come at a time when there is a global shortage of nitrocellulose, affecting NATO countries' production of artillery for Ukraine. Efforts are being made to restrict Russia's access to nitrocellulose through sanctions and export controls. [Extracted from the article]

The U.S. Treasury Department, along with British and Australian allies, has imposed sanctions on alleged Hamas financing networks, targeting currency exchanges and citing cryptocurrency transfers. The U.S. and its allies are working to shut down the primary channels Hamas uses to fund its fight against Israel, focusing on currency exchanges used by Hamas-tied owners to move millions of dollars, including cryptocurrencies. This challenges the traditional view that crypto is only used by terrorist groups for crowdfunding. The joint action also included the designation of Palestinian businessman Zuhair Shamlakh and three of his family members, as well as three Gaza-based currency exchanges and their owners. [Extracted from the article]

The Biden administration has warned Turkish officials about their country's support for Hamas and trade relations with Russia. Despite U.S. sanctions targeting Hamas financiers, Turkey has allowed the group's businesses to operate in Istanbul. Turkey's trade with Russia has also increased, despite export controls meant to restrict the flow of goods to support Russia's war efforts. The U.S. is urging Turkey to cut off funding to Hamas and stop providing goods and services to Russia, and warns of potential sanctions. The relationship between the U.S. and Turkey is currently strained, with both countries seeking concessions from each other. [Extracted from the article]

Hamas, the Palestinian militant group, has turned to digital currencies as a new way to receive large sums of money from Iran. Previously, Hamas used an off-the-books system of remittances known as hawala to shuttle physical cash and goods across borders. However, after Israel targeted and killed a Hamas commander involved in the hawala network, a Palestinian businessman named Zuhair Shamlakh began using digital currencies to evade detection. This shift allowed Hamas to receive significant funds from Iran in the two years leading up to the recent attacks on Israel. Israel's National Bureau for Counter-Terror Financing has since issued orders to seize crypto funds held by Gazan exchanges connected to Hamas and its affiliates. The use of digital currencies by Hamas has raised concerns about the potential for terrorist financing through crypto. [Extracted from the article]

How the West - and Israel Itself - Inadvertently Funded Hamas Advertisement When Hamas took over the Gaza Strip 16 years ago, Israel, the U.S. and the international community had few options to support Gazans without also benefiting Hamas. Keywords: leder; gfx-contrib; israel; wsjworld; Asia; Emerging Market Countries; Doha; Developing Economies; Gaza Strip; Persian Gulf Countries EN leder gfx-contrib israel wsjworld Asia Emerging Market Countries Doha Developing Economies Gaza Strip Persian Gulf Countries N.PAG N.PAG 1 10/24/23 20231020 NES 231020 Islamist organization diverted humanitarian assistance and levied taxes after blockade of Gaza was eased After Hamas launched its murderous assault on Israel this month, the U.S. and its allies condemned Iran for funding what they deem a terrorist organization. [Extracted from the article]

The U.S. and Qatar have agreed to withhold $6 billion in Iranian oil proceeds that were previously released as part of a prisoner swap. Concerns over Iran's support for Hamas, the group responsible for a recent terrorist attack on Israel, prompted the decision. The funds are currently held in a restricted bank account in Qatar, and the U.S. has reached an informal agreement with Qatar to delay disbursing them to Iran. The Iranian mission to the United Nations criticized the move, stating that the money belongs to the people of Iran. [Extracted from the article]

Hamas, Palestinian Islamic Jihad, and Hezbollah received significant amounts of funds through cryptocurrency in the year leading up to the recent attacks on Israel. Israeli authorities linked digital currency wallets to these militant groups, with one wallet connected to the Palestinian Islamic Jihad receiving up to $93 million in crypto, and wallets connected to Hamas receiving about $41 million. The use of cryptocurrency highlights the challenges faced by the US and Israel in severing the groups' access to foreign funding. These groups have been designated as foreign terrorist organizations and are subject to sanctions, but they have still managed to accumulate weaponry and launch attacks. The exact amount of crypto used to finance the recent assault is unknown, as is the amount seized by Israeli authorities. Crypto exchanges have been identified as potential gaps in financial crime controls that allow terrorist groups to misuse them. The investigation into Binance's anti-money-laundering controls by the US Justice Department is ongoing. Hamas has been using crypto as a fundraising tool since at least 2019, and they have become more sophisticated in their use of cryptocurrency, using payment processors to obscure their true wallets. The groups have also been transferring funds among each other's wallets, primarily using the stablecoin tether. The use of crypto is seen as an easier alternative to smuggling cash across borders. [Extracted from the article]

Trade "leakage" could undermine pressure campaign and potentially prolong war in Ukraine, Western officials say. [Extracted from the article]