Yemen Faces Financial Hurdles Due to Houthi Attacks

On Wednesday, Prime Minister Maeen Abdulmalik said that Yemen is facing financing difficulties following a drop in public revenues caused by Houthi attacks on oil export ports.

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The Houthi attacks have caused an estimated US$1 billion in losses, preventing the government from meeting its responsibilities, including improving public services and paying wages across the war-torn country.

To address the challenges, Abdulmakik established a committee comprising six ministries and the Central Bank, which will oversee the implementation of an extensive economic, financial, and monetary reform program.

Meanwhile, Abdullah Al-Saadi, Yemen's permanent representative to the United Nations, stressed the need to pressure the Houthis to stop targeting vital facilities and infrastructure.

"The violations of the Houthis threaten the peace process and cause economic harm to all Yemenis," he said, calling for support in enabling the Yemeni government to resume oil exports to meet urgent financial obligations and address citizens' needs.

Over the past few months, the Houthi militia in Yemen conducted drone strikes on government-controlled oil ports in Hadramout and Shabwa provinces. These repeated assaults resulted in the suspension of oil exports, which serve as a vital source of income for the impoverished Arab nation's government.

The Houthis have consistently stated that their objective in targeting these ports is to thwart the exploitation of Yemen's "sovereign wealth."

Yemen has been mired in a civil war since 2014 when the Iran-backed Houthi militia stormed several northern cities and forced the Saudi-backed Yemeni government out of Sanaa.