New Sanctions Imposed by the US on Houthi Financial Network

The U.S. Treasury Department has imposed new sanctions on two companies based in Hong Kong and the United Arab Emirates, accusing them of facilitating Iranian raw material shipments that help finance the Houthi group’s attacks on shipping. The Treasury Department’s Office of Foreign Assets Control (OFAC) has identified four vessels linked to these companies as blocked property, as the revenue from the commodity sales is believed to support Yemen’s Houthi rebel group.

These sanctions follow an earlier round of sanctions announced on December 28 against an individual and three entities for supporting the flow of Iranian financial aid to Houthi forces, as well as joint US and UK military strikes against the Houthis in Yemen. Treasury Undersecretary for Terrorism and Financial Intelligence, Brian E. Nelson, emphasized the United States’ commitment to stopping the Houthis’ destabilizing activities and threats to global trade, in coordination with allies and partners.

The affected vessels include FLOURS, owned by Hong Kong-based Cielo Maritime Ltd, and the SINCERE 02, operated by Global Tech Marine Services Inc. based in the United Arab Emirates. Both companies have been accused of transporting Iranian goods in support of Sa’id al-Jamal, using forged shipping documents to conceal the Iranian origin of the cargo. The Ministry of Finance has appointed Cielo Marine Ltd and Global Tech Marine Services to provide material support to Sa’id al-Jamal, and the ships of both companies have been identified as blocked property.

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