Senate Panel Holds High-Stakes Hearing Examining Hamas Funding, Iran Sanctions

The Senate Banking Committee on Thursday will hold a high-stakes hearing to discuss the illicit funding in connection with Hamas' Oct. 7 surprise attack on Israel, as well as the possibility of issuing sanctions against Iran.

Though the White House has said it does not have evidence that Iran was directly involved in planning the attack, the country is a longtime supporter of Hamas.

President Joe Biden's administration has already frozen the $6 billion in aid promised to Iran as part of a prisoner swap last month. Banking Committee Chair Sherrod Brown, D-Ohio, who faces a tight reelection bid in 2024, has said he does not think Congress needs to codify the freeze, while ranking committee member Sen. Tim Scott, R-S.C., has introduced legislation to do just that.

In a statement to Punchbowl News, Brown's spokesperson said the Ohio senator is still reviewing legislation related to Iran sanctions and added Thursday's hearing will “determine next steps and possible legislation."