One individual and three entities were designated by the Department of the Treasury’s Office of Foreign Assets Control (OFAC) as being responsible for facilitating the flow of Iranian financial assistance to Houthi forces.
Among those designated by OFAC for sanctions is the head of the Currency Exchangers Association in Sana’a, and three exchange houses in Yemen and Türkiye. These persons have facilitated the transfer of millions of dollars to the Houthis at the direction of U.S.-designated Sa’id al-Jamal. That individual is affiliated with Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF).
“Today’s action underscores our resolve to restrict the illicit flow of funds to the Houthis, who continue to conduct dangerous attacks on international shipping and risk further destabilizing the region,” Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian Nelson said. “The United States, along with our allies and partners, will continue to target the key facilitation networks that enable the destabilizing activities of the Houthis and their backers in Iran.”
Sa’id al-Jamal was designated for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, the IRGC-QF. The IRGC-QF was designated for providing support to multiple terrorist groups.
Türkiye-based Al Aman Kargo Ithalat Ihracat Ve Nakliyat Limited Sirketi (Al Aman) serves as a waypoint for money sent by the Houthis’ Iranian financiers to the group’s businesses in Yemen. The IRGC-QF has deposited millions of dollars into Al Aman for onward shipment to Yemen, where the funds are deposited into the accounts of Nabco Money Exchange and Remittance Co. (Nabco), a successor company to the U.S.-designated Al-Hadha Exchange Co. established after the U.S. sanctioned the exchange house.
Alalamiyah and Al-Hadha Exchange Co. were previously designated for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Sa’id al-Jamal. Nabco Money Exchange and Remittance Co. and Al Rawda Exchange and Money Transfers Company are being designated for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Sa’id al-Jamal. Nabil Ali Ahmed Al-Hadha is being designated for owning or controlling, directly or indirectly, Nabco Money Exchange and Remittance Co. Also, Al Aman Kargo Ithalat Ihracat Ve Nakliyat Limited Sirketi is being designated.
With these sanctions, all property and interests in property of the designated persons described above that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. In addition, any entities that are owned, directly or indirectly, individually or in the aggregate, 50 percent or more by one or more blocked persons are also blocked.