U.S. Tightens Grip: Sanctions Hit Yemen's Financial Ties

The U.S. imposes sanctions on Yemen Kuwait Bank, accusing it of aiding the Houthis. This move aims to pressure the Houthis before Biden's departure. The bank's assets are frozen, disrupting Houthi financial activities. The sanctions impact global shipping due to the Houthis' aggressive maritime actions.

In a strategic move to curtail the financial lifelines of the Houthis, the U.S. has targeted Yemen Kuwait Bank with sanctions. Announced on Friday, these sanctions accuse the financial institution of facilitating money laundering operations supporting the militant group.

The sanctions come amid escalating Houthi attacks on maritime routes, with incidents of ship seizures and casualties causing significant disruptions. These attacks have led to increased insurance rates and shifted global shipping patterns, further exacerbating inflation concerns.

As President Biden's administration prepares to exit, these sanctions signal a continued U.S. commitment to countering Houthi influence before the incoming presidency. Additionally, ongoing U.S. and British operations aim to safeguard Red Sea commerce and suppress Houthi military capabilities.

(With inputs from agencies.)