SANA’A – A newly released investigative report by PTOC Yemen, an anti-money laundering and organized crime monitoring platform, has exposed exclusive documents confirming that Iran’s ambassador in Sanaa, Ali Rezaei, oversees a covert mechanism designed to help the Houthi group circumvent US sanctions.

According to the documents, the scheme is supervised by Iranian Trade Minister Abbas Ali Ayadi, along with a technical team from his ministry. On the Yemeni side, the operation is coordinated by the deputy chief of the Houthi Intelligence Agency for Economic Affairs, Deputy Minister of Commerce and Investment Mohammed Qatran, and another figure named Ayman Al-Khalqi.

Using Fake and Abandoned Companies

The strategy between Tehran and the Houthis includes transferring Iran’s expertise in sanctions evasion. Key methods involve establishing shell companies in Iran-aligned countries, using long-standing Yemeni firms for trade, and exploiting dormant or opposition-owned companies created before 2017 to avoid suspicion.

Iraqi Networks and Financial Camouflage

Echoing a Foreign Policy report, the document notes that the Houthis have ramped up their financial operations by setting up front companies connected to Iraqi firms, tapping into Iraq’s Iran-influenced financial system.

Additional documents reveal that the Houthis coordinate trade through third-party countries, masking their activity through shell companies to evade international financial tracking systems.

Shifting Away from Exposed Broker

A separate memo signed by Houthi Deputy Foreign Minister Abdulwahid Abu Ras recommends seeking new international brokers due to the exposure of Iranian intermediary Saeed Al-Jamal, who is now closely monitored by US intelligence—especially in China and East Asia.

Urgent International Action Needed

The report warns that the Houthis are now adopting advanced money laundering techniques in close coordination with Iran’s Revolutionary Guard Corps, calling for immediate international action to reinforce oversight and cut off funding streams fueling the group’s political and military operations.