Washington: The US Treasury Department imposed sanctions on the International Bank of Yemen, but issued a temporary general license allowing financial transactions related to it until May 17.

According to National Iraqi News Agency, the Ministry confirmed in a statement: “The license also includes companies in which the bank owns, directly or indirectly, a stake of at least 50%.”

The statement emphasizes that any payments directed to sanctioned entities must be transferred to frozen accounts, in accordance with the applicable sanctions regime.