U.S. Sanctions Target Al-Shabaab Money Laundering Network

The U.S. Department of the Treasury imposed sanctions on Monday on what it described as an international money laundering and fundraising network for the militant group Al-Shabaab, active in Somalia. The statement announced that "the sanctions targeted 16 entities and individuals in the Horn of Africa and the countries of the UAE and Cyprus." The department stated that "Al-Shabaab, which Washington considers a terrorist organization, generates over $100 million annually, some of which comes from extorting local businesses." Al-Shabaab, linked to al-Qaeda, has been waging an insurgency against the Somali government since 2006 in an attempt to establish a regime based on a strict interpretation of Islamic law.