U.S. slaps new sanctions on Yemen to curb terrorism

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U.S. slaps new sanctions on Yemen to curb terrorism – Oct. 25, 2017

Why North Korean sanctions have failed

The Trump administration on Wednesday imposed a new round of sanctions, this time on nine individuals and entities that support terrorism and violence in Yemen.

Treasury Secretary Steven Mnuchin announced the measures during a speech in Riyadh, Saudi Arabia as part of a six-day trip to the Middle East aimed at bolstering cooperation on curbing illicit terrorism financing.

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The latest round of economic warfare was coordinated with Saudi Arabia, the United Arab Emirates, Kuwait, Oman, the Kingdom of Bahrain and Qatar, making it the largest multilateral sanction in the Middle East, said Mnuchin, according to prepared remarks.

“This bold and innovative multilateral approach is needed because terrorism poses a threat to all of our nations,” said Mnuchin. “It is critical that we come together to combat this.”

Related: U.S. slaps sanctions on 8 North Korean banks

The White House has prioritized using such economic tools to combat rogue regimes like North Korea and terrorist organizations, like ISIS. The administration has been working to tamp down on terror attacks by cutting off their access to expansive networks of fundraisers, recruiters and operators.

Mnuchin said ISIS has raised hundreds of millions of dollars through the theft of oil, kidnapping and extortion, and targeted sanctions by the U.S. have helped to reduce the flow of capital to the terrorist organization.

“We are focused on maximizing the use of our expansive economic authorities, intelligence, and other sources of financial information to target and interrupt the financing of those who execute and facilitate these deadly attacks and other destabilizing activities,” said Mnuchin.

CNNMoney (Washington) First published October 25, 2017: 9:54 AM ET

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