US imposes sanctions on Yemen to tackle ISIS and Al-Qaeda

The United States has announced sanctions on Yemeni individuals and companies to combat the activities of al-Qaeda and the so-called Islamic State.

Confirming the development, U.S. Treasury said the sanctions have been issued jointly with other countries as part of the newly-created Terrorist Financing Targeting Center (TFTC).

Announcing the move on Wednesday on a trip to Riyadh to mark the opening of the TFTC, US Treasury Secretary, Steven Mnuchin said, Eight Yemeni individuals and one company, Al Khayr Supermarket, have been placed on a sanctions list.

Through this action we are aggressively targeting radical extremists in Yemen and the surrounding region who pose a direct threat to the security of the United States, Yemen, and the international community,” Mnuchin said.

The TFTC was created in May with alliance from Qatar, Bahrain, Kuwait, Oman and the United Arab Emirates, to stem the flow of terrorist financing and is jointly chaired by the U.S. and Saudi Arabia.

The group’s stated objectives include identifying, tracking and sharing information regarding terrorist financing, with the ultimate aim of disrupting money flow to radical groups such as al-Qaeda and ISIS.

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