US imposes sanctions on Houthi-linked money lending network involved in Iranian oil transactions in Yemen

Flags of the United States and Iran | Credits: Reuters
Flags of the United States and Iran | Credits: Reuters

Washington, United States: The attacks on ships in the southern Red Sea by Iranian-backed Houthi rebels have been increasing; the United States sanctioned 13 individuals and organizations accused of contributing tens of millions of dollars to the Houthis in Yemen through the sale and transportation of Iranian commodities.

According to the Treasury, previously sanctioned Houthi and Iranian financial facilitator Sa’id al-Jamal employs a network of exchange houses and enterprises to assist Iranian money in reaching Yemen’s armed allies.

Iranian oil transactions | Credits: Reuters

The restrictions blocked access to US property and bank accounts, as well as the ability of the targeted individuals and businesses to conduct any business with Americans.

Money lenders in Lebanon, Turkey, and Dubai are named as supporting al-Jamal, along with shipping companies from Russia to Saint Kitts and Nevis, who reportedly transport al-Jamal’s Iranian product shipments. Sanctions were imposed on all individuals and businesses on Thursday, according to the report by Associated Press. 

 The Houthis “continue to receive funding and support from Iran,” according to Brian Nelson, Treasury’s undersecretary for terrorism and financial intelligence. “The result is unsurprising: unprovoked attacks on civilian infrastructure and commercial shipping, disrupting maritime security and threatening international commercial trade,” he stated.

Nelson further continued, “Treasury will continue to disrupt the financial facilitation and procurement networks that enable these destabilizing activities.”

The Houthis have initiated missile and drone assaults on commercial maritime activities in the Red Sea and the Gulf of Aden since October.

 The surge in attacks by Houthis

Militants of Houthis | Credits: Reuters

The Houthis have sometimes targeted ships in the region in the past, but the number of strikes has grown since the start of Israel’s war with Hamas, peaking after an Oct. 17 explosion at a hospital in Gaza killed and maimed many. Houthi commanders have stated that Israel is their first goal.