US Treasury Sanctions Funders of Houthi Rebels

The US Treasury Department’s Office of Foreign Assets Control (OFAC) has designated individuals and vessels linked to the Iran-based Houthis in the Red Sea as blocked property for funding their activities. Among those sanctioned are individuals like Mohammad Roslan Bin Ahmad and Zhuang Liang, who have facilitated illicit shipments and engaged in money laundering for the network of Iran-linked Houthi financier Sa’id al-Jamal. The network generates revenue by transporting Iranian goods, including oil, to finance attacks on commercial shipping in the Red Sea.

The Yemen-based Iran-backed Houthis have carried out numerous drone and missile attacks on commercial vessels, disrupting global trade and increasing transportation costs. OFAC’s actions target various aspects of the illicit network that provide funding for the Houthis, including clients, intermediaries, insurance providers, vessels, and ship management companies. The US Treasury aims to dismantle these actors critical to the network’s operations and disrupt the Houthis’ ability to destabilize the region and threaten international trade.

OFAC’s designations also include entities like Ascent General Insurance Company, Fornacis Energy Trading Co. LLC, Barco Ship Management Inc., and Sea Knot Shipping Inc., which play roles in providing ship insurance, buying and shipping Iranian cargo, and managing vessels used for illegal shipments. The sanctions are part of efforts to dismantle the Houthis’ financial network and disrupt their destabilizing activities, in line with previous designations of Sa’id al-Jamal and the IRGC-QF by the US State Department.

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