OFAC Sanctions Network of Financial Facilitators for Iran, Houthis

The Office of Foreign Assets Control this week sanctioned 13 people and companies responsible for handling millions of dollars of Iranian sales revenue or for arranging shipments of Iranian commodities to the Iran-backed Houthis in Yemen. The sanctions target Iran-linked people and entities involved in a “complex network of exchange houses” and businesses across several countries, including Lebanon, Turkey, St. Kitts, Russia and the U.K.

Among those sanctioned are Bilal Hudroj of Lebanon-based Hodroj Exchange S.A.R.L., which has sent millions of dollars and euros to Yemeni exchange houses. Hodroj and the exchange have worked with Turkey-based jewelry store and money exchanger Pirlant Istanbul Kuyumculuk Ticaret Limited Sirketi (Pirlant), and some of those funds have been delivered to Yemen-based Davos Exchange and Remittances Company (Khaled Al Athari and Partner) General Partnership.

Others sanctioned include international businessman Fadi Deniz and several of his companies, including Lebanon-based Vanessa Imex Group Ithalat Ihracat Ve Dis Ticaret Limited Sirketi, Russia-based OOO Russtroi-SK, and U.K.-based Vanessa Group Limited and Deniz Capital LLP.