Barran Press
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has announced its most extensive action to date against the Iran-backed Ansarallah, commonly known as the Houthis. The new sanctions target a significant network comprising four individuals, 12 entities, and two vessels, all implicated in the illicit importation of oil and other goods to finance the designated terrorist group.
The comprehensive action targets various facets of the Houthis' financial operations, including front companies, their owners, and key Houthi operatives. These individuals and entities are accused of generating revenue through black market oil sales and orchestrating smuggling operations, primarily utilizing Houthi-controlled ports.
Among the entities sanctioned are companies such as Black Diamond Petroleum Derivatives, Star Plus Yemen, Tamco Establishment for Oil Derivatives, Royal Plus Shipping Services and Commercial Agencies, and Yahya Al-Usaili Company for Import Limited. These firms are cited for their alleged roles in facilitating oil sales, smuggling activities, and financial transactions that benefit the Houthi movement.
Additionally, two vessels, along with their owners and operators, face sanctions for reportedly violating U.S. restrictions by offloading oil derivatives to the Houthis.
Furthermore, the Treasury is directly targeting vessels, along with their owners and operators, found to have violated U.S. sanctions by delivering oil derivatives to the Houthi forces.
Deputy Secretary of the Treasury Michael Faulkender underscored the objective of these sanctions, stating they are designed to disrupt the financial and shipping pipelines that enable the Houthis' "reckless behavior" in the critical Red Sea region. This move signifies a heightened effort by the U.S. to curb the Houthis' ability to destabilize the region through their illicit financial activities.