The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has taken action against several companies, individuals, and vessels involved in the transport of Iranian oil and liquefied petroleum gas (LPG) to Yemen and the UAE on behalf of a network linked to the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF)-backed Houthi financier, Sa’id al-Jamal.
OFAC also updated its sanctions list to include a vessel previously used for this network, reflecting its new name.
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This network helps finance the Houthis’ activities, which include attacks on shipping in the Red Sea and targeting civilian infrastructure, creating regional instability. OFAC’s actions aim to disrupt Iran’s financial support for terrorist proxies such as the Houthis and Lebanese Hezbollah.
The sanctioned entities include shipping companies and vessels facilitating these illegal activities, such as LPG tankers and companies based in countries like Hong Kong, Malaysia, and the UAE.
These entities are being held accountable for aiding Sa’id al-Jamal’s network in smuggling Iranian commodities, which funds destabilizing actions by the Houthis and Hezbollah.
The sanctions restrict U.S. citizens and institutions from conducting transactions with the sanctioned individuals and entities and expose those engaging with them to enforcement actions.
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These measures aim to curb Iran’s ability to fund terrorism and further regional conflict.
“Today’s action underscores our continued commitment to disrupting Iran’s primary source of funding to its regional terrorist proxies like Lebanese Hizballah (Hezbollah) and the Houthis,” said Acting Under Secretary of the Treasury for Terrorism and Financial Intelligence Bradley T. Smith. “Our message is clear: those who seek to finance these groups’ destabilizing activities will be held to account.”
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