Yemen Monitor – Newsroom:
The U.S. Department of the Treasury announced on Friday the imposition of sanctions on an international smuggling network accused of financing the Iran-backed Houthi group. The sanctions target four individuals, twelve entities, and two ships — in what has been described as the most significant move yet to disrupt the group’s financial sources.
In a statement, the Treasury explained that the sanctioned parties were involved in illegally smuggling oil and goods, which generated substantial revenue for the Houthis through Yemen’s black market. The network also used ports under Houthi control to transport shipments in violation of U.S. sanctions.
The sanctions also target two vessels involved in smuggling petroleum products for the Houthis, along with their owners and operating companies.
U.S. Deputy Treasury Secretary Michael Faulkender stated that the Houthis rely on a complex network of front companies and close financial intermediaries to secure funding and technology, including weapon components, in coordination with the Iranian regime.
Faulkender noted that this is the largest package of sanctions imposed on the group to date and is part of U.S. efforts to cripple the Houthis’ ability to carry out attacks that threaten international shipping in the Red Sea and the broader region.
