The U.S. has sanctioned Yemen Kuwait Bank due to alleged Houthi group connections, amidst ongoing attacks on U.S. interests in the Red Sea. The Houthis have targeted Israeli cargo ships in a show of support for Gaza amid increasing casualties in the conflict. U.S. officials stress the need to disrupt financial channels supporting these destabilizing operations.
The U.S. government has instituted sanctions against Yemen Kuwait Bank for Trade and Investment, attributing this decision to the bank’s alleged ties to the Houthi movement, which is identified as a terrorist organization by the U.S. The Houthis reportedly continue to engage in hostile activities against U.S. military personnel and regional allies in the Red Sea, as reported by Anadolu Agency via News.az.
In recent developments, the Houthis have escalated their attacks against Israeli-linked cargo ships in the Red Sea using missiles and drones. This aggression is perceived as a demonstration of solidarity with the Gaza region, which has suffered significant casualties during the ongoing conflict, with reports indicating nearly 47,000 fatalities due to the recent hostilities initiated by Israel since October 2023.
Bradley Smith, the Acting Under Secretary of the Treasury for Terrorism and Financial Intelligence, emphasized that the Houthis depend on certain financial institutions, such as Yemen Kuwait Bank, to facilitate their access to the global financial network and to fund their destabilizing military operations. He also remarked that the U.S. is committed to disrupting these illicit financial avenues and supporting Yemen’s recognized government in shielding the country’s banking system from Houthi control.
U.S. sanctions have been strategically implemented to curb the influence of the Houthi movement, which has been implicated in a multitude of aggressive maritime actions, particularly directed towards Israeli interests. The actions taken by the U.S. are aimed at ensuring regional stability and protecting legitimate commerce in the Red Sea, an area crucial for international trade. This move reflects broader efforts to isolate the Houthis financially and diminish their operational capabilities.
The imposition of sanctions on Yemen Kuwait Bank serves as a clear warning to financial institutions connected to terrorist activities. It underscores the U.S. commitment to undermining the financial networks that enable the Houthis’ aggressive actions in the region. Collaborating with Yemen’s recognized government, the U.S. aims to restore integrity to the banking sector while supporting international maritime commerce.
Original Source: news.az
