US TREASURY TARGETS KEY HOUTHI FINANCE NETWORK IN COORDINATION WITH REGIONAL GULF PARTNERS

On 23 February, the US Treasury issued a news release saying that OFAC was designating members of an international network funding the Houthis’ war against the Yemeni government and increasingly aggressive attacks threatening civilians and civilian infrastructure in neighbouring states.  Led by the U.S.-designated Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) and Houthi financier Sa’id al-Jamal, this network has transferred tens of millions of dollars to Yemen via a complex international network of intermediaries in support of the Houthis’ attacks.  al-Jamal and members of his network were designated in 2021, and it is said that he directs a web of front companies and vessels that smuggle fuel, petroleum products, and other commodities to customers throughout the Middle East, Africa, and Asia. Al-Jamal is aided by Turkey-based Abdi Nasir Ali Mahamud and his network of businesses, which have served as a cover for al-Jamal’s activities.  The network includes exchange houses and shipping companies.

https://home.treasury.gov/news/press-releases/jy0603

https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20220223

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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