The U.S. Treasury Department, led by Secretary Janet Yellen, announced sanctions on a Syrian conglomerate, Al-Qatirji Company, accusing it of funding Iran’s Islamic Revolutionary Guards Corps-Quds Force (IRGC-QF) and Yemen’s Houthi militants.
These groups have targeted U.S. forces in the Middle East. A total of 26 entities, individuals, and vessels associated with Al-Qatirji were blacklisted for their role in facilitating the sale of Iranian oil to Syria and China, which generates substantial revenue for the IRGC-QF and its allied militias.
The funds from these activities are funneled through major cities like Istanbul and Beirut, with the Houthis receiving millions of dollars monthly. The U.S. Treasury stated that Iran increasingly depends on entities like Al-Qatirji to sustain its destabilizing actions across the region. Al-Qatirji was already blacklisted previously for transactions involving Syria and the Islamic State, highlighting its central role in Iran’s financial network.
Secretary Janet Yellen
Acting Under Secretary for Terrorism and Financial Intelligence Bradley Smith emphasized the U.S. commitment to curtail Iran’s capacity to finance its regional agenda through sanctions and other measures. This latest round of sanctions underscores efforts to cut off revenue streams supporting the IRGC-QF and groups like the Houthis, who have escalated their attacks amid ongoing conflicts, including the Israel-Hamas war.
The Houthis have heightened their aggression by enforcing a military blockade in the Red Sea and targeting U.S. military assets and vessels. The IRGC-QF has also facilitated direct attacks on Israel. The Biden administration aims to weaken these groups’ financial foundations, with Houthi financier Sa’id al-Jamal and Al-Qatirji executives as prominent targets of the sanctions.
Among those sanctioned were Al-Qatirji’s leader, Hussam Bin Ahmed Rushdi Al-Qatirji, and key company figures such as Muhammad Agha Ahmed Rashdi Qatirji and his son Abbas. The Treasury also sanctioned shipping vessels and companies linked to Al-Qatirji, reflecting a broad crackdown on the network sustaining Iran’s destabilizing operations.
