Since October 2023, the U.S. has been targeting the network of Sa’id al-Jamal, a Houthi financial facilitator, with various economic sanctions. Just recently, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) initiated a 7th round of financial sanctions against Sa’id al-Jamal and everyone who is supporting him.

The sanctions specifically mention ten individuals, entities, and vessels that are all being accused of engaging in the illegal transportation of oil and other goods. These goods were allegedly being transported for Sa’id al-Jamal and in support of the Houthis.

Since November of 2023, the Houthis have been engaging in attacks against U.S. naval vessels and commercial shipping boats. The attacks come in the form of both drone and missile strikes. These attacks have become so frequent in the Red Sea and the Gulf of Aden that shipping lines have had to be rerouted around the Cape of Good Hope.

Unfortunately, the Houthis have a massive support network that has continued to enable their attacks. With the aid of others, the Houthis have been successful in hiding the origin of cargo, providing services to sanctioned vessels, and creating fake shipping documents.

The OFAC’s recent sanctions also include Sa’id al-Jamal’s nephew, Abdallah Najib Ahmad al-Jamal. Abdallah is accused of managing money laundering operations for the network and has been accused of working with multiple sanctioned entities in the past.

While working with these sanctioned entities, Abdallah handled millions of dollars worth of currency.

Your Guide to Navigating OFAC Sanctions

Have you ever conducted business internationally? If so, then were you paying attention to who you were doing business with? Did you verify that the individual or entity wasn’t on the sanctions list?

You can do your own OFAC sanctions list search directly on the Department of the Treasury’s website. Another option is to consider hiring an international lawyer who is well-informed on how OFAC sanctions work and how to navigate them. The right law firm will advocate for you and your business and ensure that all your transactions are legally compliant.

If you fail to navigate OFAC sanctions successfully, then you could wind up in serious legal trouble that could derail not only your business but also your personal life. A violation of OFAC sanctions could result in prison time of up to 20 years and fines of up to a million dollars. Depending on the severity of your violation, your business could be fined to the point of collapse, and you could even get purposely excluded from being able to participate in the US financial market as a business entity.

If you’re concerned about your business’s legal compliance when it comes to global sanctions, then it might be wise to consider hiring an attorney who can help. Here at Bukh Global, our legal professionals have plenty of international experience that you can lean on when making your business decisions.

Schedule a consultation with our team of international legal experts now to learn more about how to protect your business and yourself.