U.S. Bans Business With Hamas-Led Palestinian Authority

The U.S. government has barred Americans from doing business with the new Hamas-led Palestinian government, officials said Friday, the latest sign of U.S. financial pressure against the Islamic militant group.

In a memo obtained by The Associated Press, the U.S. Treasury Department said "transactions with the Palestinian Authority by U.S. persons are prohibited, unless licensed."

It said the decision was based on "existing terrorism sanctions."