Turkey Clears US-Targeted Firm of Financial Abuse Allegations Related to Hamas Connections

Turkey has reviewed the financial activities of a company whose shareholders were sanctioned by the United States for providing aid to Hamas. The review found that there was no abuse of the Turkish financial system. The United States issued sanctions against the Palestinian terrorist group Hamas on Oct. 27, targeting three primary shareholders of Turkish real estate investment fund Trend GYO. Trend GYO denied providing financial support to the group. Turkey’s Treasury stated that the Turkish financial system operates in compliance with national laws and international obligations. Turkish officials shared their findings with US counterparts and received no evidence challenging their findings. Although Turkey does not designate Hamas as a terrorist group, the US-targeted entities could still violate Turkish domestic law. Turkey imposes sanctions endorsed by the United Nations Security Council and opposes unilateral measures. Ankara takes measures to minimize circumvention of sanctions.