Yemen Government and Houthi Rebels Agree to Halt Banking Sanctions
Yemen’s government and the Iran-backed Houthi rebels have put a pause on their banking sanctions as they continue their struggle for control over the country’s financial institutions. The United Nations announced this agreement on Tuesday, emphasizing the significance of this step towards peace in the war-torn nation.
Since March 2015, the conflict between the Houthis and a Saudi-led coalition has caused widespread devastation in Yemen. However, the two sides made a commitment in December to a UN-led roadmap aiming to end the war and initiate a political dialogue.
Despite recent setbacks like Houthi attacks on Red Sea shipping and subsequent foreign retaliation, both parties have come together to de-escalate tensions. This move includes canceling recent decisions against banks and refraining from similar actions in the future.
Additionally, both sides will address economic and humanitarian challenges in meetings based on the UN roadmap. The agreement also entails resolving disputes over Yemenia, the national airline, and increasing flight operations between Sanaa and other destinations like Jordan, Cairo, and India.