Sanctions: US, Saudi Arabia target Yemen-based terror financing
25 Oct 2017

The United States on Wednesday imposed sanctions on individuals and an entity which it said were linked to sponsoring terrorism in Iraq, Syria and Yemen.

The US Treasury’s Office of Foreign Assets Control (OFAC) issued the designations targeting leaders, financiers and facilitators of the Islamic State and al-Qa’ida in the Arabian Peninsula (AQAP).

All property and interests in property of the designated people subject to US jurisdiction are blocked, a Treasury statement explained, and US citizens are generally prohibited from engaging in transactions with them.

In addition to the eight individuals, OFAC listed Al Khayr Supermarket, which it said was owned or controlled by an AQAP financier. The entity has locations in Azzan, Shabwah Governorate, and Fuwwah, Hadramawt Governorate, Yemen.

The measures were rolled out in conjunction with members of the recently established Terrorist Financing Targeting Center (TFTC), which includes Saudi Arabia, Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates.

US Treasury Secretary Steven Mnuchin said: “Through this action we are aggressively targeting radical extremists in Yemen and the surrounding region who pose a direct threat to the security of the United States, Yemen, and the international community.”

The Yemeni action comes about two weeks after US President Donald Trump imposed new sanctions on Iran’s Islamic Revolutionary Guard Corps (IRGC), which he described as the Iranian Supreme Leader’s ‘corrupt personal terror force and militia.’

In addition, OFAC designated four entities under an executive order for their support to the IRGC or Iran’s military.

Trump also refused to continue signing off the Joint Comprehensive Plan of Action (JCPOA), an international major nuclear deal with Iran, saying it has not abided with terms of the agreement and continues to support terrorism.

Iranian President Hassan Rouhani said in response: “Even traditional allies of the US such as Europe not only did not accompany the US administration, but also immediately and explicitly announced that they would stand by the Joint Comprehensive Plan of Action …. and continue to work with Iran”.

By Irene Madongo

Related topics:

The economy of terror

Trump refuses to certify Iran deal, imposes new sanctions

Nic Ryder: Terror financing via social media – a step into the regulatory unknown?

Why a UK gov report into the funding of terrorism in the UK may never be published

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