U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC)

By  Gary  Raynaldo   – DIPLOMATIC  TIMES

The U.S. Treasury Department announced sanctions Thursday on the International Bank of Yemen Y.S.C (IBY) for its financial support of the Iran-backed Houthi militant group. In addition, the U.S. sanctioned bank officials Kamal Hussain Al Jebry, Ahmed Thabit Noman Al-Absi, and Abdulkader Ali Bazara. The Treasury Department said the sanctions are part of a broader U.S. effort to prevent Houthi attacks on commercial shipping in the Red Sea and protect “these critical waterways” for global commerce.

“Financial institutions like IBY are critical to the Houthis’ efforts to access the international financial system and threaten both the region and international commerce,” said Deputy Secretary of the Treasury Michael Faulkender.  “Treasury remains committed to working with the internationally recognized government of Yemen to disrupt the Houthis’ ability to secure funds and procure key components for their destabilizing attacks.”  

In March, President Trump re-designated Yemen’s Houthi movement as a Foreign Terrorist Organization (FTO).

Thursday’s Treasury move comes after a January designation of the Yemen Kuwait Bank for Trade and Investment for supporting the Houthis.