The US Treasury Department unveiled sanctions Thursday against a network involved in financing the growing number of attacks by Yemen's Huthi rebels against international shipping in the Red Sea.
The Iran-backed group, which has controlled northern Yemen since 2014, has been attacking vessels in the region with drones and missiles since shortly after the Israel-Hamas war broke out in October, forcing cargo ships to avoid the Suez Canal -- one of the world's busiest shipping routes.
In response, the United States announced an international coalition to protect ships passing through the Red Sea in a bid to ensure freedom of navigation through the busy waterway.
In a statement, the US Treasury said it had sanctioned the head of the Currency Exchangers Association in the Yemeni capital, Sana'a, along with three exchanges in Yemen and Turkey responsible for "facilitating the flow of Iranian financial assistance" to the Huthis.
It added that these people facilitated the transfer of "millions of dollars" to the Huthis at the direction of Sa'id al-Jamal, a group linked to Iran's Islamic Revolutionary Guards Corp (IRGC).
Unlike the Huthis, the IRGC has been designated as a foreign terrorist organization by the United States.
"Today's action underscores our resolve to restrict the illicit flow of funds to the Huthis, who continue to conduct dangerous attacks on international shipping and risk further destabilizing the region," Treasury Under Secretary for Terrorism and Financial Intelligence Brian Nelson said in a statement.