The United States has imposed sanctions on sixteen companies and individuals as part of an international network stretching from the Horn of Africa to the United Arab Emirates and Cyprus. These sanctions are aimed at disrupting the facilitation of funding and legitimization of revenues from illegal activities linked to the terrorist group Al-Shabaab.

According to State Department spokesperson Matthew Miller, the threat posed by Al-Shabaab extends beyond Somalia. He reported that Al-Shabaab’s revenues, exceeding $100 million annually, are funneled to other groups affiliated with Al-Qaeda globally, aiding in financing Al-Qaeda's global ambitions to carry out terrorist acts and undermine good governance.

"Today’s action reflects the United States’ counter-terrorism priorities in Somalia and supports the dynamic relationship we have built with the Somali government to counter the terrorist threats that endanger the people of Somalia and undermine their communities. The United States remains focused on disrupting Al-Qaeda's access to the international financial system," noted Matthew Miller.

The U.S. Treasury Department and the Office of Foreign Assets Control (OFAC) announced that Al-Shabaab generates revenues over $100 million per year by extorting local businesses and individuals, as well as through the financial support of connected businessmen. These revenues are channeled to other groups supported by Al-Qaeda around the world, assisting in financing Al-Qaeda’s global ambitions to sow discord and undermine good governance.

"The Treasury Department continues efforts to combat the abuse of the regional financial system by Al-Shabaab, based on the findings determined by the Office of Foreign Assets Control in October 2022. This includes a network of financial intermediaries of Al-Shabaab, who served as key negotiators between Al-Shabaab and local businesses in Somalia," the U.S. Treasury Department statement read.

The sanctions against entities operating in Cyprus target Haleel Commodities L.L.C., based in Dubai, also known as the Haleel Group. The company relies on the leaders of the Haleel Group, as well as its branches and subsidiaries in Somalia, Kenya, Uganda, and Cyprus, for capital generation and money laundering. The subsidiaries of the Haleel Group in Cyprus include Haleel Finance LTD, Haleel Holdings, and Haleel LTD. The sanctions also target an individual who manages and oversees the group's branches in Kenya, Uganda, Cyprus, and the UAE.