Topline
The Treasury Department announced sanctions Thursday against one individual and three money exchanges it says have been responsible for helping Iran transfer “millions of dollars” to the Yemen-based Houthi militia group over attacks on shipping vessels in the Red Sea.
Key Facts
The Department of the Treasury’s Office of Foreign Assets Control sanctioned Turkey-based money exchange known as Al Aman, which it said served as a “waypoint” between the Houthis’ Iranian backers and the group’s businesses in Yemen, and Nabco Money Exchange and Remittance Co., which it said was connected to Al Aman’s trade.
The Treasury Department also sanctioned Nabil Ali Ahmed Al-Hadha, the president of the Currency Exchangers Association which is based in Houthi-controlled parts of the Yemeni capital of Sana’a, alleging Al-Hadha had “millions of dollars” passed through his accounts in Turkey to Houthi-affiliated accounts in Yemen, and used Yemen-based, Houthi-run Al Rawda Exchange and Money Transfers Company to convert the funds into Yemeni rials to hide the source of the money.
The Treasury Department alleges the sanctioned parties were directed to transfer millions of dollars to the Houthis by Sa’id al-Jamal, an Iran-based financier that has already been sanctioned by the U.S.
The sanctions aim to restrict the transfer of money to the Houthis, “who continue to conduct dangerous attacks on international shipping and risk further destabilizing the region,” Brian Nelson, under secretary of the Treasury for Terrorism and Financial Intelligence, said.
The Treasury Department said the militant group’s attacks in the Red Sea and Gulf of Aden on international shipping vessels “have sharply curtailed the free flow of commerce through the region and represent a clear violation of international law.
Key Background
Since the start of current fighting between Israel and Hamas over two months ago, the Houthis, an Iran-backed Shi’ite rebel group aligned with Hamas, have launched multiple attacks against U.S. Navy ships, cargo ships, and oil tankers traversing through the Red Sea between Asia to markets in Europe and the west. The Houthis emerged in the 1990s and are fighting against the Yemeni government. The group has control over many parts of Yemen, including the capital Sana’a, which it captured in 2014. The group is aligned with Iran in its opposition to Saudi Arabia, which backs Yemen’s officially recognized government.
Further Reading
U.S. Announces Multinational Naval Force To Combat Houthi Attacks In Red Sea (Forbes)
U.S. Shoots Down Another 17 Houthi Drones And Missiles Over Red Sea, Military Says (Forbes)
