The United States Department of the Treasury has sanctioned a network of Houthi financial facilitators and procurement operatives linked to Sa’id al-Jamal, a key financial figure backed by Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF). 

The network has been involved in procuring weapons and stolen commodities from Russia, including illicit shipments of Ukrainian grain, in support of Houthi-controlled Yemen.‍

Targeting Houthi Financial and Trade Operations

The Treasury’s Office of Foreign Assets Control (OFAC) revealed that this network has moved tens of millions of dollars in illicit trade, utilizing eight digital asset wallets to facilitate financial transactions. According to Treasury Secretary Scott Bessent, the move is intended to disrupt the Houthis’ ability to sustain their military operations and regional destabilization efforts.

The Houthis have repeatedly targeted commercial shipping in the Red Sea with missiles, drones, and naval mines, leading to casualties and significant economic losses. The U.S. government holds Iran responsible for enabling these attacks through military and financial backing.‍

Key Individuals and Entities Sanctioned

Among those designated are Russia-based Afghan businessmen Hushang Ghairat and his brother, Sohrab Ghairat, who played a central role in arms procurement and illicit trade. They orchestrated shipments of stolen Ukrainian grain from Crimea to Yemen in 2024 using the Russian-flagged vessel AM THESEUS, also known as ZAFAR. The vessel’s captains, Russian nationals Vyacheslav Vladimirovich Vidanov and Yuri Vladimirovich Belyakov, were also sanctioned.

Additionally, Hong Kong-based AM Asia M6 Ltd, the owner and operator of AM THESEUS, was designated for its role in the scheme. Three Russian companies—LLC Sky Frame, LLC Edison, and LLC Kolibri Group—were also sanctioned due to their links to Sohrab Ghairat.

The Treasury also targeted Turkish-based Iranian money launderer Hassan Jafari, who allegedly facilitated financial transactions to support Houthi-linked trade with Russia. Jafari laundered millions of dollars to help the network bypass sanctions and finance illicit shipments.‍

Sanctions and Compliance Implications

As a result of these sanctions, all assets linked to the designated individuals and entities that fall under US jurisdiction are frozen. US persons and businesses are prohibited from engaging in transactions with the sanctioned individuals and entities. Additionally, financial institutions that facilitate significant transactions for these entities may face secondary sanctions.

OFAC reaffirmed that violations of US sanctions could result in civil or criminal penalties.