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Houthis' Financial Sources Under US Sanctions

REPORTS - منذ 16 يوم

U.S. Treasury Sanctions Yemen and Kuwait Bank for Supporting Houthi Militia

In a decisive move, the U.S. Department of the Treasury has imposed sanctions on the Yemen and Kuwait Bank for Commerce and Investment, accusing it of providing financial support to the Houthi militia. The sanctions underscore Washington’s ongoing efforts to counter the Houthi group’s destabilizing activities and its reliance on financial networks to sustain its operations.

 Designated Nationals (SDN) list, effectively freezing its assets under U.S. jurisdiction and prohibiting American entities from engaging in transactions with it. This action is part of broader U.S. measures aimed at targeting entities and individuals who enable the Houthis to maintain their military campaigns and expand their control in Yemen.

Financial Networks Supporting Terrorism

The Yemen and Kuwait Bank has been accused of facilitating transactions that directly benefit the Houthi militia. These activities include the transfer of funds and provision of financial services that contribute to the group's ability to purchase weapons, maintain their operations, and engage in activities that threaten regional stability. The U.S. Treasury highlighted that such financial networks are critical lifelines for the Houthis, allowing them to bypass sanctions and continue their terrorist activities.

This action follows a series of sanctions targeting individuals and entities linked to the Houthis. The group has long been accused of leveraging financial institutions, smuggling networks, and external support—particularly from Iran—to fund its war efforts and maintain control over territories in Yemen.

The sanctions on the Yemen and Kuwait Bank send a clear message that the U.S. is committed to dismantling the financial infrastructure that enables the Houthis to operate. It also underscores the importance of international cooperation in cutting off funding sources for groups engaged in terrorism and destabilization.

The decision to sanction a bank operating in Yemen has broader implications for the country's already fragile banking sector. Many financial institutions in Yemen operate under strained conditions due to the ongoing conflict, economic collapse, and lack of central oversight. The designation of the Yemen and Kuwait Bank may serve as a warning to other financial entities in the region to avoid involvement with sanctioned groups or risk similar penalties.

STC and Yemeni Voices Call for Action

The Southern Transitional Council (STC) and other Yemeni voices have repeatedly emphasized the importance of cutting off external support for the Houthis, including financial assistance. The STC has welcomed such measures, highlighting the need for decisive international action to counter Houthi aggression and protect the people of Yemen from further suffering.

The U.S. Treasury’s decision marks another step in holding the Houthi militia and its enablers accountable for their actions. It aligns with broader efforts to push for a resolution to Yemen’s conflict by addressing the underlying financial and logistical support that sustains armed groups.

As the international community continues to grapple with Yemen’s multifaceted crisis, actions like these reaffirm the need for a united front against those who perpetuate violence and undermine peace efforts, and in this case, Houthi Militias.