The US Department of the Treasury announced on Saturday a series of sanctions targeting a Yemen-based bank (Yemen Kuwait Bank for Trade and Investment Y.S.C), for its financial support of Ansar Allah forces (another name given to the Houthis). Designated a terrorist organization by the United States, “the Houthis continue to attack US military personnel, US regional partners and undermine legitimate trade in the Red Sea,” read a statement issued by the Office of Foreign Assets Control (OFAC).
“The Houthis depend on a few key financial institutions, such as Yemen Kuwait Bank, to access the international financial system and fund their destabilizing attacks in the region,” said the Treasury's Acting Under Secretary for Terrorism and Financial Intelligence, Bradley T. Smith. “The United States is committed to dismantling these illicit channels and working with the Yemeni government to ensure that the country's banking sector remains safe from Houthi influence,” he continued.
Today's action by the US Treasury “falls within the framework of the counterterrorism authority, namely Executive Order 13224, as amended.”
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