The Trump administration announced sanctions against the International Yemeni YSC (IBY) on Thursday for financial support for Hooty terrorists.
Along with the bank, the US Treasury Department’s Office of Foreign Assets Control (OFAC) has approved key leaders of IBY, such as Kamal Hussein al-Jebri, chairman of the board. Executive General Manager Ahmed Tabit Noman Al Absie and Deputy General Manager Abdulqadar Alibazara. By sanctioning Iby, the US wants to stop Houthi’s attacks on commercial vessels in the Red Sea.
“Financial institutions like Iby are important to Houthis’ efforts to access the international financial system and threaten both local and international commerce,” said Michael Faulkender, deputy director of the Treasury Department. “The Ministry of Finance is continuing to commit to working with the internationally recognized Yemeni government to secure funding for unstable attacks and disrupt its ability to raise key components.”
Based in Sanana, Yemen, IBY is dominated by Iran-backed Houthis, providing the group with access to banking associations for interbank financial communications (SWIFT) networks around the world and conducting international financial transactions.
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Houthi’s followers will burn Israeli and American flags during a tribal rally outside Sanaa, Yemen on January 14, 2024. Houthi’s followers gathered to protest US-UK’s airstrikes at local locations under their control. (Mohammed Hamoud/Getty Images)
Iby, for example, is said to have helped Houthi businesses and officials pursue oil on the Swift network, but is also promoting attempts to avoid surveillance of sanctions by terrorist groups.
Under sanctions on Thursday, all property and profits on the property of the US or designated leaders owned or controlled by the US, must be blocked and reported to OFAC. Additionally, entities owned directly or indirectly, individually or collectively are also blocked by one or more blocked individuals by one or more blocked people.
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State Department spokesman Tammy Bruce has sent warnings to people supporting foreign terrorist organizations like Houthis. (State Department)
OFAC regulations generally prohibit all US transactions. This prohibits transportation within the United States or including property or interest in the property of a designated person or other blocked person.
U.S. State Department spokesman Tammy Bruce spoke about sanctions during a press conference on Thursday, sending a message to people who support foreign terrorist organizations like Houthis.
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“The US is working to disrupt Houthi Financial Networks and Banking Access as part of a government-wide approach to eliminating Iran’s threat networks,” she said. Additionally, we can see that Chang Guang Satellite Technology Company Limited (CGSTL) is directly supporting Iran-supported Houthi terrorist attacks on US interests. Even after personal involvement with them, their actions and Beijing support are another example of China’s sky claims in favor of peace.
She went on to urge American partners to judge the Chinese Communist Party and Chinese companies not only about their words but also about their actions.
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“Restoring freedom of voyage in the Red Sea is a priority for President Trump,” Bruce said. “Beijing should take this priorities seriously when considering future support for the CGSTL. The US will not tolerate anyone providing support to foreign terrorist organizations such as Houthis.”
Greg Wehner is a news reporter for Fox News Digital.
Story tips and ideas can be sent to greg.wehner @fox.com and Twitter @gregwehner.
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