Washington, DC - The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on 13 individuals and entities involved in facilitating the transfer of tens of millions of dollars in foreign currency from Iran to the Houthis in Yemen. These entities have been identified as crucial conduits through which Iranian money reaches militant groups in Yemen, backed by the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF).

Under the leadership of U.S.-sanctioned Houthi and IRGC-QF financial facilitator Sa'id al-Jamal, a complex network of exchange houses and companies in various jurisdictions has been instrumental in generating funds from the sale and shipment of Iranian commodities to support the Houthis. These funds have been linked to unprovoked attacks on civilian infrastructure and commercial shipping, causing disruptions to maritime security and posing a threat to international trade.

Brian E. Nelson, Under Secretary of the Treasury for Terrorism and Financial Intelligence, highlighted the ongoing support of Iran for the Houthis and warned of the destabilizing consequences. Nelson stated, "Treasury will continue to disrupt the financial facilitation and procurement networks that enable these destabilizing activities."

The Houthis have been responsible for multiple missile and drone attacks since October, targeting civilian infrastructure in Israel and commercial shipping in the Red Sea and the Gulf of Aden. In response to these attacks, U.S. warships have had to defend themselves. Such actions not only contribute to regional instability but also increase the risk of escalating the conflict between Israel and Hamas.

Today's sanctions are in accordance with the counterterrorism authority in Executive Order (E.O.) 13224. Sa'id al-Jamal, who materially assisted, sponsored, or provided support to the IRGC-QF, was previously designated under E.O. 13224 on June 10, 2021. The IRGC-QF itself was designated on October 25, 2007, for its support of multiple terrorist groups.

Among the entities involved in facilitating these financial transfers is Bilal Hudroj from Hodroj Exchange S.A.R.L. in Lebanon. Hudroj collaborated with al-Jamal to transfer funds to Houthi officials in Yemen. Additionally, Hudroj and Hodroj Exchange sent millions of dollars and euros to Yemeni exchange houses associated with al-Jamal. Türkiye-based jewelry store and money exchanger Pirlant Istanbul Kuyumculuk Ticaret Limited Sirketi and its owner Ahmet Duri also played a role in coordinating some of these financial transfers.

Abu Sumbol General Trading (L.L.C) in Dubai, through its headquarters, participated in similar activities on behalf of al-Jamal. The company collected millions of dollars in cash, which was then transferred to an intermediary currency exchange.

Davos Exchange and Remittances Company (Khaled Al Athari and Partner) General Partnership in Yemen, established by al-Jamal and Khaled Yahya Rageh Alodhari, received millions of dollars from al-Jamal for trade-based money laundering operations with the IRGC-QF. Talib 'Ali Husayn al-Ahmad al-Rawi, a Treasury-sanctioned financial facilitator, facilitated these transfers to Davos Exchange.

Fadi Deniz, an illicit shipping agent and international businessman known as Fadi Gazogli, organized multiple shipments on behalf of al-Jamal, including arranging payments for vessels used to transport Iranian commodity shipments. Deniz established Deniz Capital Maritime Inc in St. Kitts and Nevis for business dealings with the al-Jamal network.

The U.S. Treasury has blocked all property and interests in property held by the designated entities and individuals within U.S. jurisdiction. Financial institutions and other entities engaging in transactions with these designated entities may also face sanctions or enforcement actions.

The sanctions imposed serve as a measure to disrupt the financial networks that support destabilizing activities in Yemen. The U.S. government aims to bring about positive behavioral change and restore regional stability. Removal from the sanctions list is possible through a transparent process outlined by OFAC.

The action taken by the U.S. Treasury underscores the commitment of the United States to combat the illicit financial activities and support networks that enable terrorism and undermine global security.