Monday March 11, 2024
Mogadishu (HOL) — The U.S. Treasury's Office of Foreign Assets Control (OFAC) announced sanctions Monday against a sprawling network accused of funnelling money to al-Shabaab, an al-Qa'ida-linked terrorist group. The network, spanning the Horn of Africa, the United Arab Emirates, and Cyprus, involves 16 entities and individuals, including prominent business figures, using their operations to support the extremist group.
Al-Shabaab, responsible for numerous devastating attacks in East Africa, annually amasses over $100 million, mainly from extortion and the support of these business affiliates. The United States, under Executive Order 13224, targets groups and individuals assisting terrorists, aiming to dismantle the financial underpinnings of such entities.
"The United States is committed to working with regional partners to root out terror financing networks and the entities they abuse to raise and move funds," said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson. "Today's action is part of a multifaceted effort by Treasury to support the Somali government's economic offensive against al-Shabaab—one of three pillars in their campaign to degrade this deadly terrorist group."
Key figures in the sanctioned network include the Dubai-based Haleel Commodities L.L.C., also known as the Haleel Group, and the UAE-based Qemat Al Najah General Trading. These entities, along with individuals such as Faysal Yusuf Dini and Farhan Hussein Hayder, have played significant roles in laundering money for al-Shabaab under the guise of legitimate business operations across various nations.
This latest round of sanctions follows OFAC's previous October 2022 action, highlighting continued efforts to disrupt al-Shabaab's financial activities. The sanctions mandate the freezing of all property and interests of the identified parties within the U.S. or controlled by U.S. persons and prohibit any transactions involving these assets. Moreover, any engagement with the designated entities and individuals risks secondary sanctions, particularly affecting foreign financial institutions that knowingly facilitate significant transactions for the sanctioned parties.