The US Department of the Treasury has imposed sanctions on the International Bank of Yemen and three of its senior officials, accusing the bank of providing financial support to the Houthi rebels.

In a statement released on Thursday, the US Treasury said its: “Office of Foreign Assets Control (OFAC) is sanctioning Yemen-based International Bank of Yemen Y.S.C. (IBY) for its financial support to Ansarallah, commonly known as the Houthis, which is part of the Iran threat network.”

The statement added that, alongside the bank, three top officials were also sanctioned: Kamal Hussain Al Jebry, Ahmed Thabit Noman Al-Absi and Abdulkader Ali Bazara.

The Treasury stated that the sanctions are part of broader government efforts to halt Iran-backed Houthi attacks on commercial shipping in the Red Sea.

According to the US authorities, the bank enabled the Houthis to access the SWIFT international banking system to conduct financial transactions, assisted them in purchasing oil and facilitated their attempts to evade international sanctions.

Soon after taking office, US President Donald Trump re-designated the Houthis as a Foreign Terrorist Organisation (FTO)—a move that reignited sanctions against the group.

Since 15 March, hundreds of US airstrikes in Yemen have been recorded, according to Anadolu Agency. Houthi-reported figures indicate these attacks have resulted in 163 civilian deaths and 358 injuries, primarily women and children.

These airstrikes followed President Trump’s directive to the US military to launch a major attack against the Houthi group. He later threatened to wipe them off the face of the Earth.

The Houthis have reportedly ignored these threats and continue to launch missile strikes targeting Israel, as well as vessels travelling to Israel through the Red Sea. The group claims that these actions are in response to Israel’s resumed military campaign in Gaza, which began on 18 March.

According to the Gaza Ministry of Health, by Thursday afternoon, Israeli operations have killed 1,691 Palestinians and injured 4,464 others since 18 March.

Since the beginning of Israel’s campaign on 7 October, 2023, backed by the US, the total number of Palestinian casualties has exceeded 167,000, including more than 11,000 missing persons. The majority of the victims are reported to be women and children.