Much of the funds are laundered through major cities such as Istanbul and Beirut, with Yemen’s Houthis receiving millions of dollars a month from the Al-Qatirji Company, the statement said.

According to Treasury officials, Iran has increased its reliance on companies such as the Al-Qatirji Company to fund its destabilizing activities. As the conglomerate was previously blacklisted for facilitating the sale of fuel between Syria and Islamic Statebecame a major revenue stream for the IRGC-QF and its proxies.

“Treasury will continue to take all available steps to curtail the Iranian regime’s ability to profit from the illicit schemes that enable its dangerous regional agenda,” Treasury’s Acting Under Secretary for Terrorism and Financial Intelligence. Bradley Smith said in a statement.

The United States has repeatedly hit Iran and the Houthis with sanctions as the Middle Eastern country and its militia threatened to widen the war between Israel and Hamasanother group backed by Iran, through their ever deeper involvement in the conflict.

Iran has directly attacked Israel during the war, and the Houthis have established a military blockade of the Red Sea, attacking US military and other ships transiting the vital sea channel. The Houthis and aligned militias have also attacked US military personnel in the Middle East.

The Biden administration has described the sanctions as aimed at degrading the ability of the Houthis and the IRGC-QF to finance their destabilizing activities. US blacklisted Houthi financier Sa’id al-Jamal has been a major target of sanctions.

The Treasury said Thursday that Al-Qatirji Company executives met with al-Jamal, other financial backers and senior IRGC-QF officials.

Those sanctioned Thursday include Hussam Bin Ahmed Rushdi Al-Qatirji, the 42-year-old leader of the Al-Qatirji Company; Muhammad Agha Ahmed Rashdi Qatirji, 33, who works on the company’s oil portfolio; and Abbas Katerji, 18, son of Muhammad Al-Qatirji, who also works for Al-Qatirji Company.

The rest of those sanctioned on Thursday were marine vessels and related companies.