Treasury Department Freezes Terror Assets in United States
A recent report submitted to Congress by the US Treasury Department shows that billions of dollars of organizational assets were frozen due to the organization’s position on a list provided by the State Department which considers them terrorist organizations, or supporters of such organizations.
The report shows that $5 million worth of Hezbollah assets were frozen, while $2.5 million of assets of Hamas were also frozen. Al-Qaeda has almost $13 billion of its assets located and frozen, while an additional $63,000 of Islamic Jihad funds were discovered and closed. Al-Qaeda is considered the number one terrorist threat by the State Department. The total value of the funds of terrorist organizations which were frozen by the Treasury reached $21.1 billion.
In addition to the freezing of accountants of terrorist organizations some countries had some of their assets frozen as well. The accounts of Syria, Iran, Sudan and Cuba were frozen during 2011 in the amounts of $77.3 million, $55.4 million, $20.9 million, and $245 million respectively.
The Treasury Department’s report states that the US government hermetically sealed the ability of these countries from making business deals using these assets.