The former senior Israeli intelligence officer, Udi Levy, revealed that Israeli Prime Minister Benjamin Netanyahu missed the opportunity to weaken Hamas by targeting their finances. This missed chance could have potentially hampered the group’s military build-up, according to Levy. The failure to act on this intelligence has raised questions about the connection between Netanyahu’s reluctance and the deadly Hamas attack in October last year.
Levy, who was head of economic warfare in the Mossad until 2016, claims that he repeatedly advised Netanyahu on using financial tools to crush Hamas. However, his proposals were never acknowledged. The financial empire of Hamas extends beyond Gaza, with substantial support from countries like Qatar, Iran, and Turkey. One specific funding stream discussed between Levy and Netanyahu was an alleged multi-million-dollar investment portfolio managed by Hamas out of Turkey.
Panorama’s investigation, based on documents acquired in 2020, revealed Hamas’s extensive investment portfolio, involving companies across the Middle East and North Africa. Some of these companies have been sanctioned by the US Treasury for their alleged links to Hamas. Real estate investments, pharmaceuticals, mining, and luxury projects are some of the areas where Hamas is believed to have financial interests.
The former Hamas fundraiser, Yahya Sinwar, now head of Hamas’s political wing in Gaza, reportedly forged connections with Iran while in an Israeli prison. These connections helped Hamas beat the blockade imposed by Israel and Egypt in 2007. Sinwar’s ability to secure weapons and arms from Iran emphasized the importance of external funding for Hamas.
While Israel acknowledges delivering funds to Hamas with its blessing for humanitarian purposes, suspicions remain that some of this money may have supported Hamas’s military activities. International entities, including UN agencies and the EU, have also provided financial aid to Hamas for humanitarian purposes, potentially subsidizing the group’s military wing.
Netanyahu’s strategic approach to Hamas funding has been linked to his opposition to the establishment of a Palestinian state. By keeping Hamas strong as a rival to Fatah, the group controlling the West Bank, Netanyahu aimed to prevent a unified Palestinian leadership that could negotiate a settlement. However, recent statements from Netanyahu suggest a shift in his approach, vowing to destroy Hamas and cut off any financial support for terrorism.
Despite these efforts, experts warn that as long as the underlying justifications for Hamas to acquire weapons and resources remain, the group may continue its activities. The consequences of destroying Gaza and fueling resentment could further strengthen Iran’s support for Hamas and perpetuate the cycle of conflict and violence in the region
