New Agreement between Yemeni Parties Welcomed by UAE

Let’s delve into the recent developments regarding Yemen’s banking and aviation sectors, after the agreement between Yemeni parties:

De-escalation Measures in Yemen:

The United Nations Special Envoy for Yemen, Hans Grundberg, recently announced that both the internationally recognized Yemeni government and the Houthi rebels have agreed on measures to de-escalate tensions.

These measures specifically target the banking and transport sectors, which had been subject to a cycle of retaliatory actions.

Background Context:

Yemen has been embroiled in civil war since 2014, with the Houthis seizing control of much of northern Yemen, including the capital, Sanaa.
In response, a Saudi-led coalition intervened to support the internationally recognized government.
The conflict escalated into a proxy war between Saudi Arabia and Iran.

Recent Escalation:

• Over the past seven months, tensions reached a dangerous level.
• Notably, there was a Houthi drone attack on Tel Aviv, followed by Israeli retaliatory strikes on Yemen’s key port of Hodeida and its oil and power facilities.
• Houthi attacks on ships in the Red Sea continued, and they escalated their crackdown on civic space and international organizations.
• Economic issues exacerbated the situation, leading to public threats of a return to full-fledged war.

The De-escalation Agreement between Yemeni Parties:

• While specific details of the agreement haven’t been disclosed, it aims to ease tensions related to the banking and aviation sectors.
• Yemenia Airways will resume flights between Sanaa and Jordan, with an increased frequency of up to three daily flights. Additional flights to Cairo and India are also planned.
• Meetings will address administrative, technical, and financial challenges faced by Yemenia Airways.
• The UN stands ready to work with authorities in Jordan, Egypt, and India to implement the agreed-upon measures.

Challenges and Economic Divide:

• Yemen’s economic divide is fueled by rivalry between the Houthis and the southern government.
• The Southern Transitional Council (STC), backed by the United Arab Emirates, governs much of Yemen’s south, including Aden.
• Separate central banks and currency versions (the riyal) exist due to this divide.

Importance and Next Steps:

• Experts emphasize the significance of this de-escalation agreement.
• It should alleviate the suffering of Yemeni citizens, especially considering the increased travel costs due to restrictions on flights from Sanaa.
• Further steps may include releasing the four aircraft held by the Houthis and unfreezing Yemenia Airways’ funds in banks under Houthi control.