Barran Press
On Monday, November 25, 2024, Rashad Al-Alimi, Chairman of the Presidential Leadership Council, met with Gabriel Munuera Vinals, Head of the European Union Mission, and Hubert Beier, Ambassador of the Federal Republic of Germany to Yemen, to address the economic and financial challenges resulting from the cessation of oil exports due to Houthi attacks on oil facilities and international shipping routes.
During the meeting, Al-Alimi highlighted the economic, financial, and administrative reforms being implemented by the council and the government, supported by regional and international partners. The discussions also focused on the necessary European interventions to bolster the Yemeni economy and enhance humanitarian and developmental commitments across various sectors.
Al-Alimi informed the European ambassadors about the current situation in Yemen, detailing the Houthi violations of human rights and the detrimental effects on the national economy and standards of living.
Since October 2022, the Houthi group has targeted oil export ports in the Shabwa and Hadhramaut governorates, depriving the internationally recognized Yemeni government of vital foreign currency revenues. The Houthis later stipulated the establishment of an "agreed mechanism" to allow the resumption of oil exports from government-controlled ports, including a revenue-sharing arrangement.
The halt in oil exports due to Houthi assaults has exacerbated the country's ongoing economic and humanitarian crises. In August 2024, the Yemeni government announced that it had incurred financial losses of approximately $1.5 billion due to the suspension of oil exports.