US Sanctions Three Entities For Funding Conflict In Sudan

1/31/2024 3:05:32 PM

(MENAFN- Kuwait News Agency (KUNA)) WASHINGTON, Jan 31 (KUNA) -- The US Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctioned Wednesday three entities for their role in funding the conflict in Sudan and undermining the peace, security, and stability of the African nation.
In a press statement, the OFAC clarified that these designations signal the continued commitment of the United States to identify and isolate funding sources for both the Sudanese armed forces (SAF) and the Rapid Support Forces (RSF), the two main belligerent parties responsible for the conflict in Sudan.
"The conflict in Sudan continues, in part, due to key individuals and entities that help fund the continuation of the violence," said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson.
"Treasury, in coordination with our allies and partners, will continue to target these networks and disrupt these important funding sources.
Today's action is being taken pursuant to Executive Order (E.O.) 14098, which imposes sanctions on certain persons destabilizing Sudan and undermining the goal of a democratic transition.
The three designated entities are the following: Alkhaleej Bank Co Ltd (Alkhaleej), Zadna International Co for Development and Al-Fakher Advanced Works Co.
Alkhaleej Bank Co Ltd (Alkhaleej) is controlled by the RSF and is an essential part of the RSF's efforts to finance its operations. The RSF exercises control of Alkhaleej through various individuals and entities controlled by or acting for it.
Alkhaleej reportedly received USD 50 million from the Central Bank of Sudan immediately prior to the start of the current conflict.
Zadna International Co for Development Ltd (Zadna) has been and continues to be one of the most important components of the SAF's commercial empire.
Formerly a subsidiary of the SAF's Defense Industries System (DIS), which was sanctioned by Treasury in June 2023 for being responsible for, or complicit in, or having directly or indirectly engaged or attempted to engage in actions or policies that threaten the peace, security, or stability of Sudan.
According to public media reporting, Zadna was moved under the control of the SAF's Special Fund for the Social Security of the Armed Forces (SFSSAF) with the express purpose of shielding it from civilian oversight.
Called a vehicle for military money-laundering, Zadna had been one of the top-three revenue earners for the DIS, and continues its operations - and its funding of the SAF- to the present.
Al-Fakher Advanced Works Co. Ltd. (Al-Fakher) was established by RSF senior leadership to be a holding company for conducting RSF's gold export business. RSF leaders have generated millions of dollars through gold exports, which they have used to purchase weapons, including crew-served weapons and rocket-propelled grenades. (end)
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