Somali Sanctions: al-Shabaab

The United States is designating sixteen entities and individuals in a transnational network that spans the Horn of Africa, United Arab Emirates, and Cyprus, for facilitating financing and money laundering for the al-Shabaab terrorist organization, a terrorist group responsible for some of the worst terrorist attacks in East Africa’s modern history.

Al-Shabaab generates over $100 million per year by extorting local businesses and individuals, as well as through the financial support of affiliated businesspeople. 

"The threat posed by al-Shabaab is not limited to Somalia.  Al-Shabaab’s revenues are disbursed to other al-Qa’ida-linked groups worldwide and help fund al-Qa’ida’s global ambitions to commit acts of terrorism and undermine good governance," said State Department Spokesperson Matthew Miller, 

[Treasury Announcement]