The U.S. Department of the Treasury’s Office of Foreign Assets Control has sanctioned the International Bank of Yemen and three of its top executives for providing financial support to the Iran-aligned Houthis, also known as Ansarallah. The sanctioned individuals are Kamal Hussain Al Jebry, chairman of the board; Ahmed Thabit Noman Al-Absi, executive general manager; and Abdulkader Ali Bazara, deputy general manager.
The Treasury said IBY, based in the Houthi-controlled capital Sana’a, facilitates the group’s access to the international financial system via the Society for Worldwide Interbank Financial Telecommunications network. OFAC alleges IBY aided Houthi-linked businesses in purchasing oil, helped the group evade sanctions, and assisted in mobilizing resources and confiscating assets from opponents. The bank also reportedly denied requests from the Central Bank of Yemen in Aden to move its headquarters. The request was made to banks operating in Houthi-controlled areas after the U.S. designated Ansarallah as a foreign terrorist organization in March.
The sanctions announced Thursday aim to curtail Houthi access to Yemen’s banking sector and are part of a broader U.S. government effort to stop Iran-backed Houthi attacks on Red Sea shipping. The sanctions, imposed under Executive Order 13224, freeze any assets of the designated persons and entities under U.S. jurisdiction and generally prohibit U.S. persons from engaging in transactions with them.
This action against IBY follows the January designation of Yemen Kuwait Bank for Trade and Investment, which reportedly helped the Houthis move illicit funds and create front companies to facilitate Iranian oil trade. Separately, earlier this month, the Treasury and Justice departments sanctioned a network of six entities and two individuals across Iran, the United Arab Emirates and China for procuring drone components for Iran’s Qods Aviation Industries and other entities involved in the country’s weapons programs.