US Treasury issues sanctions targeting Iranian oil trade, Houthi financing

The US Treasury Department Dec. 19 issued a new wave of sanctions on the shadow fleet of tankers shipping Iranian oil, as well as on officials and exchange houses moving money for the Iran-backed Houthi rebels in Yemen that are disrupting shipping in the Red Sea.

"The United States is committed to targeting Iran's key revenue streams that fund its destabilizing activities," Treasury Acting Under Secretary for Terrorism and Financial Intelligence Bradley Smith said in a statement.

Treasury's Office of Foreign Assets Control sanctioned three oil tankers and four companies involved in owning and managing the tankers or coordinating the sale of Iranian petrochemicals, the statement said.

The US State Department also sanctioned six tankers and four companies involved in the trade of petroleum or petroleum products from Iran, the statement said.

Treasury in October broadened the scope of its sanctions regime so that it can now sanction any person that operates in the petroleum and petrochemical sectors of the Iranian economy. The new sanctions were taken under that policy, the statement said.

Houthi rebel sanctions

OFAC also sanctioned a dozen people and entities for their roles in trafficking arms, laundering money, and shipping illicit Iranian petroleum for the benefit of the Houthi rebels, according to a separate statement.

One person targeted was Hashem Ismail Ali Ahmad al-Madani, the governor of the Houthi-aligned central bank in Sana'a, Yemen. Al-Madani is the primary overseer of funds sent to the Houthis from Iran, the statement said. OFAC also sanctioned one additional individual and two exchanges that move money for the Houthi rebels.

OFAC sanctioned two officials and one company for smuggling weapons and dual-use components into Yemen, the statement said. In addition, OFAC sanctioned two companies, two individuals and one port agent involved in shipping weapons and transporting Iranian commodities, the statement said.

The sanctions came the same day that the Israeli military launched fresh strikes on Yemen's Red Sea ports of Hodeidah and Ras Isa, hitting oil storage facilities and other energy infrastructure, according to the army and local media reports.