US Sanctions Foreign Nationals for Role in Financing Houthis Through Iranian Oil Trade

Published on July 19, 2024

The U.S. Treasury Department announced sanctions on July 18 against several foreign nationals and entities allegedly involved in an Iran-linked network accused of generating revenue for Houthis in Yemen. State Department spokesman Matthew Miller said the sanctions aimed to disrupt the network of alleged Houthi financier Sa’id al-Jamal and its “destructive activities” in the region. Mr. Miller said the network has served as the funding stream for the Houthis’ ongoing attacks against commercial shipping in the Red Sea and surrounding waterways. The U.S. government sanctioned Sa’id al-Jamal in June 2021 for allegedly smuggling Iranian petroleum and other commodities into the Middle East, Africa, and Asia. The Treasury’s Office of Foreign Assets Control (OFAC) said his network used the revenue from these sales to fund “destabilizing regional activities” of the Houthis and Iran’s Islamic Revolutionary Guard Corps Quds Force....

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