The action targets front companies, operatives, and vessels linked to illegal oil trade and weapons procurement supporting Iran-backed Ansarallah.
This month, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced its most extensive sanctions to date against the Iran-backed Houthi movement, formally known as Ansarallah. The action targets 4 individuals, 12 companies, and 2 vessels involved in a network of front businesses used to smuggle oil and other goods into Yemen. These operations generated significant revenue for the Houthis by selling fuel on the black market, concealing ownership, and facilitating weapons procurement often in coordination with Iran’s Islamic Revolutionary Guard Corps (IRGC).
U.S. officials say the revenue from these activities helps to fund Houthi military efforts and destabilizing actions in the region, including attacks in the Red Sea. The U.S. also designated vessels that violated sanctions by continuing to deliver refined petroleum products to Houthi-controlled ports after the expiration of a temporary license.
“The Houthis rely on a series of front companies and trusted facilitators to clandestinely generate revenue, procure weapons components, and advance their reign of terror in partnership with the Iranian regime,” said Deputy Secretary of the Treasury Michael Faulkender.
As the Lord Leads, Pray with Us…
- For Deputy Secretary Faulkender as he oversees the placing of sanctions on the oil smuggling network.
- For wisdom for Secretary Scott Bessent as he heads the Treasury Department.
Sources: Department of Treasury
