The United States is cracking down on financial institutions that support terrorism. On Thursday, the Trump administration sanctioned the International Bank of Yemen Y.S.C. (IBY) for helping fund Houthi terrorist activity, reports Fox.

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) also hit several of the bank’s top leaders with sanctions. This includes Chairman of the Board Kamal Hussain Al Jebry, Executive General Manager Ahmed Thabit Noman Al-Absi, and Deputy General Manager Abdulkader Ali Bazara. Officials say the goal is to disrupt Houthi attacks on ships passing through the Red Sea.

“Financial institutions like IBY are critical to the Houthis’ efforts to access the international financial system and threaten both the region and international commerce,” Deputy Secretary of the Treasury Michael Faulkender said. “Treasury remains committed to working with the internationally recognized government of Yemen to disrupt the Houthis’ ability to secure funds and procure key components for their destabilizing attacks.”

According to the Treasury Department, the IBY operates out of Sana’a, Yemen, and is under the control of the Iran-backed Houthis. The bank reportedly gives the terrorist group access to the SWIFT financial system, which allows for international transactions.

The U.S. says IBY has helped Houthi officials and businesses attempt to buy oil and avoid sanctions by using SWIFT.

32 days of US Navy relentless bombings of the Houthis pic.twitter.com/fuJe3r9CTz

— Open Source Intel (@Osint613) April 16, 2025

As part of the new sanctions, any property or assets belonging to the listed individuals that fall under U.S. jurisdiction are frozen. Any companies owned 50 percent or more by these people are also blocked. OFAC rules make it illegal for U.S. persons or entities to do business with anyone under these sanctions.

U.S. State Department spokesperson Tammy Bruce addressed the sanctions during a press briefing Thursday.

“The United States is committed to disrupting the Houthi financial networks and banking access as part of our whole-of-government approach to eliminating Iran’s threat network,” she said. “Moreover, we can confirm the reporting that Chang Guang Satellite Technology Company Limited (CGSTL) is directly supporting Iran-backed Houthi terrorist attacks on U.S. Interests. Their actions and Beijing’s support of the company, even after our private engagements with them, is yet another example of China’s empty claims to support peace.”

China providing the Houthis with advanced intelligence isn’t remotely surprising. What is surprising is how many people still don’t get it. The Chinese regime is a hostile actor, actively undermining the West. The longer that reality is ignored, the worse the reckoning will be. pic.twitter.com/TrCIQxNd3f

— Hans Mahncke (@HansMahncke) April 18, 2025

She went on to say U.S. allies should pay close attention to what China is doing—not just what it says.

“Restoring freedom of navigation in the Red Sea is a priority to President Trump,” Bruce said. “Beijing should take this priority seriously when considering any future support of CGSTL. The United States will not tolerate anyone providing support to foreign terrorist organizations such as the Houthis.”