U.S. Targets International Bank of Yemen with New Sanctions

The United States has implemented fresh sanctions on the International Bank of Yemen, accusing it of financially supporting the Houthi group. This Iran-aligned organization is known for attacking commercial ships in the Red Sea. Sanctions also apply to leaders and officials of the bank.

The United States has imposed a new series of sanctions on the International Bank of Yemen (IBY), according to a statement by the Treasury Department on Thursday.

The move is a response to the bank's alleged financial support for the Houthis, an Iran-backed group that has carried out attacks on commercial ships in the Red Sea.

The sanctions also extend to leaders and officials associated with the IBY, highlighting the increased focus on cutting off resources to militant organizations in the region.

(With inputs from agencies.)