Yemen's central bank freezes assets of 135 Houthi-linked individuals

Asset freeze directive

The Central Bank of Yemen on Tuesday ordered banks and exchange companies to freeze the accounts and assets of 135 individuals and entities linked to the Houthi group under an October directive from the public prosecutor, the government-run SABA news agency reported. The Aden-based monetary authority also prohibited financial institutions from conducting commercial dealings with those designated, including opening new accounts or processing transactions on their behalf.

Banks were instructed to identify and report all existing accounts, assets and money transfers belonging to the listed parties to Yemen's financial intelligence and anti-money laundering units, according to the directive. The measures implement an Oct. 19 public prosecutor order designating the parties over alleged Houthi ties.

Terrorism designation

The asset freeze came one week after the internationally recognized government approved draft legislation on Oct. 11 to classify the Houthis as a “terrorist organization” and criminalize the group's activities and financing. The confidential list includes political, military and security officials, businessmen, one company and five oil tankers identified as smuggling vessels, though SABA did not disclose specific names.

Prolonged conflict

The financial measures come amid escalating hostilities between the Houthis and forces aligned with the internationally recognized government, which has been battling the Iran-backed movement since 2014. The Saudi-led coalition backing government forces has faced repeated attacks from the group, which maintains control of Sanaa and much of northern Yemen despite nearly a decade of war.