June 10, 2021

OFAC designates several individuals and entities for their participation in terrorist network

On June 10, 2021, the US Department of the Treasury’s Office of Foreign Assets Control designated several persons and entities for being members in a network responsible for funding Iran’s Islamic Revolutionary Guard Corps – Qods Force (IRGC-QF) and the Houthis in Yemen.  The network, led by Iran-based Houthi financier Sa’id al-Jamal and six of his supporters, including four companies that they own or control, was designated pursuant to the counterterrorism authority Executive Order 13224, as amended.  OFAC also identified one vessel that al-Jamal has used to transport Iranian petroleum products out of Iran.  Al-Jamal’s network of front companies and vessels smuggle commodities such as Iranian petroleum, that generate tens of millions of dollars in revenue, through the Middle East, Africa and Asia, and ultimately to the Houthis in Yemen, to be used for destabilizing activities by Houthis, the IRGC-QF, and others, including Hizballah.

OFAC and the Department of State also lifted sanctions against three former Iranian officials and two companies that were once involved in the sale and transport of Iranian petrochemicals.  These individuals and entities were delisted after the US was able to verify changes in their status or their behavior.

As a result of the OFAC designations, all US property is blocked, and any transactions with these persons or entities are generally prohibited. In addition, foreign financial institutions, or persons that knowingly facilitate significant transactions on behalf of designated persons, risk exposure to US sanctions.

Department of Treasury Press Release | Counter Terrorism Designations and Designation Removals