Economic Rules Hub
  • World
  • Politics
  • Business
  • Investing
Home Politics Trump admin imposes sanctions against Bank of Yemen for supporting Houthis
Politics

Trump admin imposes sanctions against Bank of Yemen for supporting Houthis

by admin April 18, 2025
April 18, 2025

The Trump administration announced sanctions against the International Bank of Yemen Y.S.C. (IBY) on Thursday for its financial support of Houthi terrorists.

Along with the bank, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning key leaders of IBY, like its Chairman of the Board of Directors Kamal Hussain Al Jebry; Executive General Manager Ahmed Thabit Noman Al-Absi and Deputy General Manager Abdulkader Ali Bazara. By sanctioning IBY, the U.S. hopes to stop Houthi attacks on commercial ships in the Red Sea.

‘Financial institutions like IBY are critical to the Houthis’ efforts to access the international financial system and threaten both the region and international commerce,’ Deputy Secretary of the Treasury Michael Faulkender said. ‘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.’

Based in Sana’a, Yemen, the IBY is controlled by the Iran-backed Houthis and provides the group with access to the bank’s Society for Worldwide Interbank Financial Telecommunications (SWIFT) network to make international financial transactions, the Treasury said.

The IBY, for instance, has allegedly aided Houthi businesses and officials to pursue oil on the SWIFT network, while also facilitating attempts by the terrorist group to evade sanctions oversight.

Under Thursday’s sanctions, all property and interests in property of the leaders named, that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. Additionally, any entities that are owned, directly or indirectly, individually or in the aggregate, 50 percent or more by one or more blocked persons are also blocked.

OFAC’s regulations generally prohibit all transactions by U.S. persons or within, or transiting, the United States that involve any property or interests in property of designated or otherwise blocked persons. 

U.S. State Department spokesperson Tammy Bruce spoke about the sanctions during a press briefing Thursday, sending a message to anyone who supports foreign terrorist organizations like the Houthis.

‘The United States is committed to disrupting the Houthi financial networks and banking access as part of our whole-of-government approach to eliminating Iran’s threat network,’ she said. ‘Moreover, we can confirm the reporting that Chang Guang Satellite Technology Company Limited (CGSTL) is directly supporting Iran-backed Houthi terrorist attacks on U.S. Interests. Their actions and Beijing’s support of the company, even after our private engagements with them, is yet another example of China’s empty claims to support peace.

She continued, urging partners of the U.S. to judge the Chinese Communist Party and Chinese companies on their actions, and not just their words.

‘Restoring freedom of navigation in the Red Sea is a priority to President Trump,’ Bruce said. ‘Beijing should take this priority seriously when considering any future support of CGSTL. The United States will not tolerate anyone providing support to foreign terrorist organizations such as the Houthis.’ 

This post appeared first on FOX NEWS

0
FacebookTwitterPinterestEmail
previous post
Trump: China calling ‘a lot’ since last week’s tariff increase, deal could happen as soon as 3 weeks
next post
Trump: Jimmy Carter died a happy man because Biden holds title for ‘worst’ president in history

Related Posts

Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B...

June 8, 2025

Call with China’s Xi, and Trump-Musk exchange fueled barbs during...

June 8, 2025

Musk jokes about reconsidering stance on Big Beautiful Bill after...

June 8, 2025

Musk deletes explosive posts about Trump and Epstein files

June 8, 2025

Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

June 8, 2025

House witness flips script on Dem who ambushed him during...

June 8, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Planned Russia-Ukraine prisoner swap descends into blame game and uncertainty

      June 8, 2025
    • Bruce Springsteen’s European tour comes with a warning about the battle for America’s soul

      June 8, 2025
    • Israel says it has killed leader of Palestinian militant group that took part in October 7 attack

      June 8, 2025
    • Colombian presidential hopeful Miguel Uribe shot in Bogota

      June 8, 2025
    • Desperate to get its illegally detained civilians out of Russia, Kyiv offers Ukrainian collaborators in exchange

      June 8, 2025

    Categories

    • Business (1,395)
    • Investing (3,407)
    • Politics (4,562)
    • World (4,471)
    • Email Whitelisting
    • Terms and Conditions
    • Privacy Policy
    • Contacts
    • About us

    Disclaimer: EconomicRulesHub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 EconomicRulesHub.com | All Rights Reserved

    Economic Rules Hub
    • World
    • Politics
    • Business
    • Investing