The US Department of the Treasury's Office of Foreign Assets Control (OFAC) imposed sanctions on Yemen's International Bank of Yemen Y.S.C. (IBY) on Thursday for financially supporting Ansarallah, also known as the Houthis. Along with IBY, key officials Kamal Hussain Al Jebry, Ahmed Thabit Noman Al-Absi, and Abdulkader Ali Bazara are also targeted.
"Financial institutions like IBY are critical to the Houthis' efforts to access the international financial system and threaten both the region and international commerce … Treasury remains committed to working with the internationally recognized government of Yemen to disrupt the Houthis' ability to secure funds and procure key components for their destabilizing attacks." Deputy Secretary of the Treasury Michael Faulkender stated.
This action follows similar measures against Yemen Kuwait Bank for Trade and Investment Y.S.C. in January.
