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Yemen Loses $7.5 Billion Due to Houthi Halt of Oil Exports

Yemen Monitor/Newsroom:

The Yemeni government has announced economic losses amounting to $7.5 billion since the cessation of oil and gas exports in October 2022, due to the Houthis targeting oil installations, which has affected 90% of exports and 80% of the general budget revenues.

Yemen’s Permanent Representative to the United Nations, Ambassador Abdullah Al-Saadi, blamed the Iranian-backed militias for deepening the humanitarian crisis and the collapse of the national currency, which disrupted the payment of salaries and the funding of basic services.

Yemen renewed its call to the Security Council and the international community to support the resumption of exports as a vital step for economic stability, warning of the repercussions of the deteriorating situation on millions of Yemenis, especially with the exacerbation of food insecurity and the spread of epidemics.

Al-Saadi also accused the Houthis of kidnapping UN staff and obstructing aid, demanding that the headquarters of international organizations be moved to Aden to ensure their unhindered operation.

He stressed the need to designate the Houthis as a terrorist group and dry up their funding, expressing his appreciation for the support of Saudi Arabia and the UAE.

He warned that international silence would lead to further escalation, calling for increased humanitarian support and bridging the funding gap that threatens the lives of millions.

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