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US imposes sanctions on Yemeni financial institution in action against Houthis

  • The United States imposed sanctions on Yemen Kuwait Bank for financially supporting the Houthis, aiming to increase pressure on the group before President Joe Biden leaves office.
  • The U.S. Treasury Department accused the bank of helping the Houthis launder money and transfer funds to allies, including Lebanon's Hezbollah.
  • The Houthis have conducted over 100 attacks on ships since November 2023, disrupting global shipping and increasing costs, which raises concerns about global inflation.
  • Biden's sanctions freeze the bank's U.S. Assets and generally bar Americans from dealing with it, with risks of additional sanctions for certain transactions.
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