Yemen's internationally recognized government has called on the UN Security Council to intervene and find a way to restart its oil exports, revealing losses of $7.5 billion since the Houthi group halted shipments in October 2022. Yemen's UN envoy, Abdullah al-Saadi, told the council that the continued blockade by the Iranian-backed Houthis is crippling the government's ability to fund essential services like electricity, education, and healthcare, as millions face potential famine.

Al-Saadi emphasized that resuming oil and gas exports, which previously accounted for 90% of Yemen's exports and 80% of its budget, is critical for economic stability and reducing reliance on humanitarian aid. He warned that repeated Houthi threats and attacks on oil facilities have worsened the economic and humanitarian crisis, disrupting vital sectors and impacting livelihoods.

The cessation of oil revenue has depleted foreign currency reserves, destabilized the exchange rate, and created difficulties in importing basic goods and paying public sector salaries, according to the Yemeni government. Al-Saadi urged the international community to support efforts to restart oil exports, describing it as essential for stability and allowing Yemenis to benefit from their resources without Houthi "blackmail and threats." The Houthi blockade followed attacks on key oil ports in October 2022.