Saudi Arabia to grant Yemen $1.2 bln in economic aid — Saudi source

  • 8/1/2023
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RIYADH: Saudi Arabia is giving Yemen’s presidential council $1.2 billion to help the country’s struggling economy, a Saudi source told Reuters on Tuesday. Fighting has largely stopped with the Iran-aligned Houthis in north Yemen over the last year but the Saudi-backed government, based in Aden, has grappled with a weak currency and high prices. The situation has particularly worsened in Aden and south Yemen since several Houthi drone attacks targeted oil tankers in southern oil terminals, stopping the government from exporting crude oil from there. The support will contribute to strengthening security and preventing a return of military clashes, the Saudi source said. It would also encourage dialogue on all sides to reach a comprehensive political solution to the Yemeni crisis, the source added. A Yemeni official said the donation would be used to pay government wages, fuel for power plants, and food imports. The Houthis, aligned with Iran, ousted the government from Sanaa in late 2014, and have de facto control of north Yemen.  The fighting since 2015 killed tens of thousands and left 80 percent of Yemen’s population dependent on humanitarian aid.

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