US imposes sanctions on Yemen Kuwait Bank

WASHINGTON

The US on Friday imposed sanctions on Yemen Kuwait Bank for Trade and Investment for its alleged ties to the Houthi group.

The Department of Treasury said in a statement that it is sanctioning the bank "for its financial support to Ansarallah, commonly known as the Houthis."

It said the Houthis -- a US-designated terrorist organization -- continue to attack US military personnel, its regional partners, and legitimate commerce in the Red Sea.

The Houthis have targeted Israeli cargo ships or the ones linked with Tel Aviv in the Red Sea with missiles and drones in a show of support for the Gaza Strip, where nearly 47,000 people have been killed in Israel’s genocidal war since October 2023.

"The Houthis rely on a few key financial institutions like Yemen Kuwait Bank to access the international financial system and finance their destabilizing attacks in the region," said Acting Under Secretary of the Treasury for Terrorism and Financial Intelligence Bradley Smith.

Smith added that the US is committed to disrupting these "illicit channels" and working with the internationally recognized government of Yemen to ensure that the country’s banking sector remains insulated from Houthi influence.

WASHINGTON

The US on Friday imposed sanctions on Yemen Kuwait Bank for Trade and Investment for its alleged ties to the Houthi group.

The Department of Treasury said in a statement that it is sanctioning the bank "for its financial support to Ansarallah, commonly known as the Houthis."

It said the Houthis -- a US-designated terrorist organization -- continue to attack US military personnel, its regional partners, and legitimate commerce in the Red Sea.