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End Financing for Hamas and State Sponsors of Terrorism Act
12/16/2024, 7:32 PM
Summary of Bill HR 6322
The bill outlines several key provisions, including the imposition of sanctions on individuals and entities that provide financial support to Hamas or other designated terrorist groups. It also calls for increased cooperation between the US government and international partners to disrupt the flow of funds to these organizations.
Additionally, the bill requires the Secretary of State to submit a report to Congress detailing the efforts being made to combat terrorist financing and the progress being made in cutting off funding to Hamas and other terrorist groups. Overall, the End Financing for Hamas and State Sponsors of Terrorism Act aims to strengthen US efforts to combat terrorism by targeting the financial networks that support these dangerous organizations.
Congressional Summary of HR 6322
End Financing for Hamas and State Sponsors of Terrorism Act
This bill prohibits the Department of the Treasury from using its stabilization fund to deal in International Monetary Fund (IMF) Special Drawing Rights (SDR) from any country determined to be a state sponsor of terrorism. (The SDR is an international reserve asset maintained by the IMF based on contributions from IMF member countries. SDRs may be exchanged between member countries and may also be exchanged for currencies.)
Treasury must develop a strategy, in coordination with allies and partners, to ensure that Hamas is incapable of financing armed hostilities against Israel.
Treasury must report to Congress on the major sources of funding to Hamas, with an evaluation of U.S. efforts to undermine Hamas' ability to finance armed hostilities against Israel.
