US Treasury announces sanctions on Yemen Kuwait Bank for financial support to Houthis

He explained that the Bank of Yemen and Kuwait helped the Houthis establish and finance front companies, which the group used to facilitate Iranian oil sales in coordination with the Houthi-linked Sweid and Sons Exchange Company.

He stated that the Bank of Yemen and Kuwait was designated pursuant to Executive Decree No. 13224, as amended, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, the Houthis.

The Treasury Department also affirmed that it is committed to addressing the financial networks that support the Houthis’ regional aggression, noting that the United States is prepared to use all tools at our disposal to prevent their access to the US financial system and to work with our partners and allies to restrict their ability to access the global financial system.