US Sanctions Yemeni Bank Supporting Houthis, Issues General License
The U.S. last week sanctioned the Yemen Kuwait Bank for Trade and Investment, a Yemeni bank that it said has given financial support to the Yemen-based Houthis. The Treasury Department said the Houthis, listed by the U.S. as a specially designated global terrorist last year (see 2401170025), use the bank to launder money, transfer funds, and create and finance front companies.
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New General License 32 authorizes certain wind-down transactions with the bank, and any entity it owns by 50% or more, through 12:01 a.m. EST on Feb. 16.