US Sanctions 7 People, 4 Entities, 1 Vessel Over Financing Houthis, IRGC - Treasury

US Sanctions 7 People, 4 Entities, 1 Vessel Over Financing Houthis, IRGC - Treasury

The United States sanctioned seven individuals, four entities and one vessel involved with a smuggling network that financed Iran's Islamic Revolutionary Guard Corps and the Houthi movement, the Treasury Department said in a release on Thursday

WASHINGTON (UrduPoint News / Sputnik - 10th June, 2021) The United States sanctioned seven individuals, four entities and one vessel involved with a smuggling network that financed Iran's Islamic Revolutionary Guard Corps and the Houthi movement, the Treasury Department said in a release on Thursday.

"Today, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) is designating members of a smuggling network that helps fund Iran's Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) and the Houthis in Yemen," the release said. "Led by Iran-based Houthi financier Sa'id al-Jamal, this network generates tens of millions of Dollars in revenue from the sale of commodities, like Iranian petroleum, a significant portion of which is then directed through a complex network of intermediaries and exchange houses in multiple countries to the Houthis in Yemen.

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In addition to sanctioning al-Jamal, the US State Department also lifted sanctions against three former Iranian government officials involved in the sale of petrochemical products. The delistings come as the result of verified changes in the behavior of the sanctioned parties.