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U.S. Sanctions International Bank of Yemen for Financing Iran-Backed Houthis

The State Department targets the bank and senior officials under counterterrorism authorities to disrupt Houthi funding and safeguard Red Sea trade.

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Overview

  • The U.S. has imposed sanctions on the International Bank of Yemen (IBY) and three senior officials for their financial support of the Houthi movement.
  • Sanctions were authorized under Executive Order 13224, part of a broader U.S. strategy to combat terror financing and Iran’s influence in the region.
  • This action aims to disrupt Houthi financial networks and protect critical Red Sea shipping lanes from attacks on global commerce.
  • The U.S. reaffirms its support for Yemen’s internationally recognized government to maintain control over the banking sector and counter Houthi influence.
  • Today's sanctions represent an escalation in U.S. efforts to dismantle financial enablers of the Houthis following their recent redesignation as a Foreign Terrorist Organization.