US imposes sanctions on Yemen bank, citing support to Huthis

The United States unveiled sanctions Thursday on a Yemen bank, including its key leaders, citing its support for Huthi rebels in that country.

The designation of the International Bank of Yemen (IBY) complements a government effort "to stop Iran-backed Houthi attacks against commercial shipping in the Red Sea," said the US Treasury Department.

Huthi rebel forces launched an armed rebellion in 2014 after years of protesting discrimination and marginalization, seizing control of the capital Sanaa and other several provinces.

Since November 2023, Huthi forces have targeted shipping lanes using missiles and drones in what they say is solidarity with Palestinians in Gaza, where a brutal war has raged since October that year.

"Financial institutions like IBY are critical to the Houthis' efforts to access the international financial system and threaten both the region and international commerce," said Deputy Treasury Secretary Michael Faulkender in a statement.

The official said the US government was "committed to working with the internationally recognized government of Yemen."

Thursday's action follows a designation in January of the Yemen Kuwait Bank for Trade and Investment.

In a separate statement, the US State Department added that Washington was "committed to disrupting Houthi financial networks and banking access."

Besides the IBY, key leaders targeted in Thursday's actions are Kamal Hussain Al Jebry, Ahmed Thabit Noman Al-Absi and Abdulkader Ali Bazara, the Treasury Department said.

As a result of sanctions, property and interests in property of designated individuals in the United States are blocked and must be reported.