The United States has imposed sanctions on the International Bank of Yemen (IBY) and its key leaders, citing their support for Houthi militants in the country. The US Treasury Department stated that the designation of IBY is part of a government effort to prevent Houthi attacks on commercial shipping in the Red Sea. The Houthi forces have been targeting shipping lanes since November 2023 in solidarity with Palestinians in Gaza. The US government is committed to working with the internationally recognized government of Yemen and disrupting Houthi financial networks and banking access.