January 18, 2025 - 02:59
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on Yemen Kuwait Bank for Trade and Investment Y.S.C. The sanctions are a response to the bank's financial support for Houthi attacks targeting shipping in the Red Sea. This action underscores the U.S. commitment to countering threats to international maritime commerce and regional stability.
The Houthis, an Iran-aligned group in Yemen, have increasingly targeted commercial vessels in the Red Sea, raising concerns about the safety of one of the world's busiest shipping routes. The U.S. government has stated that these attacks not only threaten maritime security but also contribute to the ongoing humanitarian crisis in Yemen.
By sanctioning the Yemen Kuwait Bank, the U.S. aims to disrupt the financial networks that enable the Houthis to carry out their operations. The Treasury has urged other financial institutions to exercise caution and avoid engaging with entities that support Houthi activities. This move is part of broader efforts to hold accountable those who undermine peace and security in the region.
