The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on the Yemen-based International Bank of Yemen Y.S.C. (IBY) for its financial support to Ansarallah, commonly known as the Houthis, which is part of the Iran-backed network.
As part of this designation, OFAC has also sanctioned key individuals associated with IBY, including Kamal Hussain Al Jebry, Ahmed Thabit Noman Al-Absi, and Abdulkader Ali Bazara.
According to OFAC, IBY, based in Sana’a, Yemen, is controlled by the Iran-backed Houthis and provides the terrorist group with access to the SWIFT network, allowing them to conduct international financial transactions. For example, IBY has facilitated the purchase of oil by Houthi-affiliated businesses and officials through its access to the SWIFT network.
Since the Houthis seized control of significant areas in northern Yemen, they have utilized their access to formal financial institutions to facilitate transactions that support their terrorist activities. These activities have disrupted international shipping and resulted in civilian casualties.
The Treasury Department remains dedicated to working with the internationally recognized government of Yemen to prevent the Houthis from securing funds and acquiring essential components for their destabilizing attacks, as Deputy Secretary of the Treasury Michael Faulkender stated.
