US imposes sanctions on money exchange services that help fund Houthis

The new sanctions came in the wake of a series of Houthi attacks on commercial ships in the Red Sea and Gulf of Aden since October 7.

The United States (US) has imposed sanctions on an individual and three exchange companies, on charges of facilitating the transfer of Iranian financial support to the Houthi group in Yemen.

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In a statement, on Thursday, December 28, US Department of Treasury said that the sanctions were imposed on Nabil Ali Ahmed Al-Hadath, head of the Money Exchange Association in the Houthi-controlled areas in Sanaa in Yemen, where he also heads the Nabco exchange and money transfer company.

The sanctions also affected Nabco Money Exchange and Remittance Co, Houthi-run Al Rawda Exchange and Money Transfers Company, and the Türkiye-based Al Aman Kargo Ithalat Ihracat Ve Nakliyat Limited Sirketi.

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They have facilitated the transfer of millions of dollars to the Houthis at the direction of US—designated Sa’id al-Jamal, who is affiliated with Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF). 

“Today’s action underscores our resolve to restrict the illicit flow of funds to the Houthis, who continue to launch serious attacks on international shipping and risk further destabilizing the region,” Treasury Under Secretary for Terrorism and Financial Intelligence Brian Nelson said in a statement.

The new sanctions came in the wake of a series of Houthi attacks on commercial ships in the Red Sea and Gulf of Aden since October 7.

Earlier this month, US has imposed sanctions on 13 individuals and companies accused of diverting millions from selling Iranian products to the Houthis in Yemen.

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