This audio is created with AI assistanceThe Palestinian militant group Islamic Jihad received part of a $93 million payment through the sanctioned Russian crypto-exchange company Garantex, the Wall Street Journal reported on Oct. 13. The sources used in the reporting alleged that Hamas likely used a similar funding scheme as a means of disguising their transactions and evading sanctions. After the U.S. Treasury Department sanctioned more than 80% of the Russian banking industry following the full-scale invasion, crypto has become one of the primary ways that Russians can move money around in foreign banks. Unnamed Treasury Department sources told the WSJ that the U.S. was considering additional actions against Garantex to stop the flow of illegal or sanctioned money. The company was sanctioned by the Treasury Department in April 2022.

Source: Wall Street Journal October 14, 2023 17:35 UTC