US hits key Houthi bank, leaders with sanctions amid Red Sea shipping attacks

The United States has imposed sanctions on the International Bank of Yemen (IBY) and several key leaders linked to the Houthi movement, citing their support for the militant group.

This move, announced by the US Treasury Department, is part of Washington’s broader effort to counter Iranian-backed Houthi attacks on international shipping routes in the Red Sea, Caliber.Az reports via Arab media.

The sanctions target the IBY, a financial institution deemed crucial for the Houthis’ access to the international financial system. “Financial institutions like IBY are critical to the Houthis’ efforts to access the international financial system and threaten both the region and international commerce,” said Deputy Treasury Secretary Michael Faulkender. He added that the US is committed to collaborating with the internationally recognized government of Yemen in addressing these threats.

Houthi forces began their armed rebellion in 2014, following years of protests against perceived discrimination and marginalization. The group has since seized control of Yemen's capital, Sanaa, and several other provinces. Since November 2023, the Houthis have escalated their attacks on commercial shipping lanes using missiles and drones. The group claims these actions are in solidarity with Palestinians in Gaza, where the conflict has intensified since October 2023.

April 17 sanctions also targeted three prominent Houthi leaders: Kamal Hussain Al Jebry, Ahmed Thabit Noman Al-Absi, and Abdulkader Ali Bazara. As a result of these sanctions, the property and interests in property of the designated individuals within the United States will be blocked, and any such assets must be reported.

This action follows a similar designation made in January, when the Yemen Kuwait Bank for Trade and Investment was sanctioned. The US State Department reinforced its commitment to disrupting Houthi financial networks, adding that the United States will continue to exert pressure on the group’s financial operations.

These measures are seen as a direct attempt to curb the Houthis’ growing influence and their attacks on critical shipping lanes in the Red Sea, a vital artery for global commerce. 

By Vafa Guliyeva