Washington intends to impose sanctions on two Yemeni banks
English - Saturday 19 June 2021 الساعة 09:56 am
Aden, NewsYemen, Special:
A source in the Central Bank of Yemen - Aden, said that the bank is in a state of emergency and continuous meetings, with receiving confirmed information about Washington's intention to impose sanctions on two Yemeni banks, for their involvement in trading in Iranian oil revenues covered by US sanctions, and carrying out financial operations for the benefit of Tehran's arms in Yemen and the region.
The source, who asked not to be named, confirmed to NewsYemen that the Central Bank - Aden, obtained information confirming that the US Treasury intends to add two Yemeni banks, "the Bank of Yemen and Kuwait and the International Bank of Yemen" to its black list.
Since the withdrawal of the United States of America in 2018 from the nuclear agreement signed with Iran in 2015, Washington has tightened sanctions on Iran and imposed a comprehensive ban on sales of Iranian oil, with sanctions imposed on any foreign country or company that exceeds those sanctions.
The two Yemeni private sector banks are headquartered in the capital, Sana'a, and are subject to the authority of the Houthi militia, which controls the banks and directs their activities to serve their interests.
The source added that the Central Bank of Yemen - Aden, which is recognized by the global financial system and international financial institutions, is growing increasingly concerned about the repercussions that will be reflected on the Yemeni banking sector, which is suffering from crises and divisions due to the war.
The US sanctions prevent the entities covered by it from accessing the American financial system and prevent Americans from dealing with it completely.
The blacklisting of some Yemeni banks and exchange companies increases their isolation from regional and international financial networks.
On June 12, the US Treasury imposed sanctions on the Sweden and Sons Exchange Company, and included it in the blacklist, for sending millions of dollars to officials of the Iranian Revolutionary Guard - Quds Force deployed in Yemen, causing panic to depositors, and withdrawing their deposits.
The banking sector in Yemen, consisting of 17 banks, whose main centers are in Sana'a - with the exception of the National Bank in Aden - suffers from various challenges that have led it to abandon many of its tasks in favor of exchange shops and companies.
