The U.S. government announced new sanctions on Thursday aimed at dismantling the financial operations of a major Yemeni bank allegedly linked to funding Houthi militant activities.
The action targets the International Bank of Yemen (IBY), along with several of its top executives, including Board Chairman Kamal Hussain Al Jebry, Executive General Manager Ahmed Thabit Noman Al-Absi, and Deputy General Manager Abdulkader Ali Bazara. Officials say the move is intended to choke off funding streams that support attacks on global commercial shipping, particularly in the Red Sea.
According to U.S. officials, institutions like IBY serve as gateways for the Houthis to tap into global financial systems, helping to fund and facilitate destabilizing operations. The sanctions aim to isolate the bank and its leadership from the international financial community and prevent further exploitation of banking systems.
Based in Sana’a, the IBY operates under Houthi control and reportedly allows the group access to international financial networks, such as SWIFT, to move funds and conduct business abroad. It is alleged that the bank has enabled Houthi officials and affiliated companies to pursue oil-related transactions and evade existing sanctions.
Under the newly imposed restrictions, all assets and property interests of the sanctioned individuals that fall under U.S. jurisdiction are frozen, and any entities in which they hold a 50 percent or greater ownership stake are also subject to the same restrictions. U.S. persons and businesses are prohibited from engaging in any transactions involving the designated parties.
A spokesperson for the U.S. government emphasized that these sanctions are part of a broader strategy to dismantle financial infrastructure tied to armed groups and their backers. The spokesperson also confirmed reports that a satellite technology firm based in China is supporting Houthi operations, pointing to continued concerns over international entities aiding groups that threaten regional and global security.
The official called on international partners to evaluate the actions of foreign governments and corporations, particularly in relation to their public commitments to peace and stability. Highlighting the ongoing threat to maritime trade routes, they stressed that restoring safe passage through the Red Sea remains a top priority, and warned that support for terrorist-linked entities would not be tolerated.
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