The US Department of the Treasury has recently imposed sanctions on a network encompassing an individual and three currency exchange entities located in Yemen and Türkiye. They are alleged to have roles in funding Houthi attacks on international shipping in the Red Sea.
This comes after the Houthis announced that they will not discontinue their attacks unless Israel ceases perpetrating what they address as “genocide crimes” in Gaza and permits the inflow of humanitarian aid to the region. The sanctions list includes a financial intermediary in Sana’a, Yemen, along with the Nabco Money Exchange and Remittance Co, Al Rawda Exchange and Money Transfers Co, and Al Aman Kargo Ithalat Ve Nakliyat Limited Sirketi.
These organizations are accused of diverting Iranian financial support to the Houthi rebels. Al Aman draws special attention as a critical conduit for funds originating from Iran’s Islamic Revolutionary Guards Corps (IRGC). It’s worth noting that the IRGC was formally designated a terrorist group by the US Department of State in 2019.
By placing these organisations on the Specially Designated Nationals (SDNs) list, the treasury has effectively barred them from conducting financial transactions with US nationals and frozen any assets they possess within US jurisdiction.
Under Secretary for Terrorism and Financial Intelligence, Brian E. Nelson, stressed in a statement that US was committed to probing and disrupting the illicit financing channels exploited by the Houthis. This was crucial in relation to dismantling the financial scaffolding which underpins the Houthis’ disruptive campaigns.
Simultaneously, the US military has been dynamically engaged in neutralizing maritime threats posed by the Houthis. The US Central Command reported on a recent successful intervention by the US Navy, which managed to shoot down a drone and an anti-ship ballistic missile launched by the Houthis in the southern Red Sea. This event marks the 22nd thwarted Houthi attack on maritime targets since October 19.