US sanctions Somalia's al-Shabaab fundraisers, money launderers

The US Department of the Treasury on Monday imposed sanctions on what it said was an international fundraising and money-laundering network for the al-Shabaab militant group operating in Somalia.

The sanctions targeted 16 entities and individuals across the Horn of Africa region, the United Arab Emirates and Cyprus, the Treasury said in a statement.

The action, which follows US sanctions against a separate network linked to al-Shabaab in October 2022, freeze any US assets of those targeted and generally bars Americans from dealing with them.

It said al-Shabaab, which Washington considers a terrorist group, generates over $100 million a year, including by extorting local businesses.

Al-Shabaab, linked to al-Qaeda, has been waging an insurgency against the Somali government since 2006 in a bid to establish its own rule based on a strict interpretation of Islamic Sharia law.

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