U.S. Treasury Sanctions Key Figures in Houthi Financing Network

Among those sanctioned are Mohammad Roslan Bin Ahmad, an Indonesia-based Malaysian and Singaporean national, and Zhuang Liang, a Chinese national based in the People’s Republic of China (PRC), both of whom have facilitated illicit shipments and engaged in money laundering for the network.

Sa’id al-Jamal’s network generates tens of millions of dollars in revenue for the Houthis in Yemen through the shipment of Iranian commodities, including oil, which funds their attacks against commercial shipping in the Red Sea. The action targets various aspects of this illicit network, including clients, facilitators, insurance providers, vessels, and ship management firms.

Since November 2023, the Iranian-backed Houthis have carried out numerous drone and missile attacks from Yemen against commercial ships in solidarity with Palestinians in Gaza. The attacks have forced a significant portion of global trade to reroute around the Cape of Good Hope, increasing shipping costs and disrupting global supply chains. To date, the group has hijacked one ship, sunk two, and killed at least four civilian seafarers.

“Today’s action underscores our focus on disrupting the Houthis’ sprawling network of financial facilitators, shell companies, and vessels, that enables the primary source of funding for the group’s destabilizing activities,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian Nelson. He added that the Treasury would continue to disrupt actors critical to this network’s operations and the Houthis’ ability to further destabilize the region and threaten international commerce.

OFAC designated Sa’id al-Jamal in June 2021 for supporting Iran’s Islamic Revolutionary Guard Corps – Qods Force (IRGC-QF), which was designated in 2007 for supporting multiple terrorist groups. The U.S. Department of State also designated Ansarallah (commonly known as the Houthis) as a Specially Designated Global Terrorist group effective February 16, 2024.

Key international illicit finance and shipping facilitators include Mohammad Roslan Bin Ahmad, also known as Royston, who provides ship management and brokering services for Sa’id al-Jamal’s network, and Zhuang Liang, who has engaged in money laundering and finance-related schemes for the network.

The designation also includes Seychelles-registered, Thailand and Singapore-based Ascent General Insurance Company for providing vessel insurance and UAE-based Fornacis Energy Trading Co. L.L.C for purchasing and shipping Iranian cargo for the network. Marshall Islands-registered and UAE-based Barco Ship Management Inc and Sea Knot Shipping Inc. are also sanctioned for their roles in managing vessels used for illicit shipments.

Additionally, UAE-based Alpha Shine Marine Services L.L.C has been designated for managing the Panama-flagged vessel KASPER, used for illicit trade under forged shipping documents.