The Biden administration issued sanctions on Wednesday aimed at disrupting Hamas' funding, targeting "a secret Hamas investment portfolio," a financial facilitator tied to Iran.

The sanctions, imposed under a terrorism-related executive order, targeted nine individuals and one entity based in Gaza and elsewhere including Sudan, Turkey, Algeria, and Qatar, the US Department of Treasury said in a statement.

"The United States is taking swift and decisive action to target Hamas’s financiers and facilitators following its brutal and unconscionable massacre of Israeli civilians, including children," said Treasury Secretary Janet Yellen said.

"We will continue to take all steps necessary to deny Hamas terrorists the ability to raise and use funds to carry out atrocities and terrorize the people of Israel," Yellen added.

Treasury's actions come as US President Joe Biden visited Israel and met with Israeli Prime Minister Benjamin Netanyahu following Hamas' October 7 attack.

Iran is believed to have been providing at least $100 million annually to Hamas and a few hundred millions to Hezbollah in Lebanon.

After the Hamas attack on Israel, top Iranian officials and government media celebrated the event and organized street celebrations, voicing their commitment to continue full support to "resistance front", which is a term referring to militant organization Tehran supports in the region.