US State Dept Labels Al-Shabaab Backers as Transnational Network.

The US Department of the Treasury has imposed sanctions on an international fundraising and money laundering network for the al-Shabaab militant group operating in Somalia, targeting 16 entities and individuals across the Horn of Africa, United Arab Emirates and Cyprus. Al-Shabaab, linked to al-Qaeda, generates over $100 million annually, partly through extorting local businesses, and funds other al-Qaida-linked groups worldwide. The sanctions freeze any US assets of those targeted and generally bar Americans from dealing with them, aiming to disrupt the financial support network for the group and aligning with the US counterterrorism priorities in Somalia.

March 11, 2024
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