Barran Press
Since 2020, Houthi leader Hashim Ismail Al-Madani has emerged as a pivotal figure in the group's economic operations, rising from his role as a political advisor to managing crucial financial activities. On Thursday, December 19, 2024, Al-Madani was prominently listed among 12 individuals and entities sanctioned by the U.S. Treasury for their involvement in arms trafficking, money laundering, and illegal Iranian oil shipments supporting the Houthis.
Al-Madani, born in 1984, is a close associate of Houthi leader Abdul-Malik al-Houthi. Despite his youth, he has been the governor of the Central Bank of Sanaa since April 2020 and oversees the Supreme Economic Committee, playing a key role in the Houthi financial network linked to the Iranian Revolutionary Guard Corps (IRGC). Known for his bold decisions, Al-Madani has spearheaded initiatives such as issuing new coins and engaging in financial negotiations with foreign entities.
The U.S. Treasury described Al-Madani as a key figure in the Houthi movement, directly overseeing funds sent from the IRGC's Quds Force. He has worked closely with Saeed Al-Jamal, another financial officer supported by the Quds Force, to conduct business activities that benefit the Houthis.
Ahmed Al-Hadi
Ahmed Al-Hadi, another Houthi official sanctioned by the U.S., is a senior financial coordinator responsible for transferring Houthi funds. Born in Saada in 1970, Al-Hadi is accused of directing other financial officials, including Al-Jamal, to manage and disburse funds for the militia.
Sources in Sanaa suggest Al-Hadi is involved in transport and logistics operations, partnering with another Al-Hadi family member who manages several transport and logistics companies. Based in Sanaa, these companies have branches in major global ports, including Dubai and Lahore, and operate shipping offices in China.
Wael Abdul-Wadud and Omar Al-Haj
Wael Abdul-Wadud and Omar Al-Haj, both born in 1994 in Al-Hudaydah, are implicated in smuggling operations for the Houthis and have connections to groups affiliated with the IRGC's Quds Force in the Horn of Africa. Earlier this year, they were arrested in the unrecognized Republic of Somaliland for their involvement in smuggling activities benefiting the Quds Force and the Houthis.
The U.S. Treasury identified Abdul-Wadud and Al-Haj as key facilitators in moving weapons and dual-use components into Yemen. They have played significant roles in Houthi smuggling operations, including activities through Somalia.
Network Companies
The U.S. Treasury also sanctioned several financial companies linked to the Houthi network, including those involved in financing and smuggling weapons. Among them is Al-Hazmi Exchange, managed by Khaled Al-Hazmi, which transferred funds to Davos Exchange, controlled by Al-Jamal, to help the network evade sanctions.
Other sanctioned companies include Mohammed Ali Al-Thawr Exchange and Safwan Al-Dubai Shipping and Trading. These entities facilitated money laundering and weapon procurement operations for the Houthis, often involving complex networks extending to China and Malaysia.
Since early this year, the U.S. has imposed a series of sanctions on companies, individuals, and ships associated with Houthi leader Saeed Al-Jamal, who is accused of coordinating Iranian funding for the Houthis, including proceeds from Iranian oil and gas sales. These funds have enabled the Houthis to finance their military operations and enhance their arsenal.