The New Rich in Yemen..Houthi Militia Employing War

The New Rich in Yemen..Houthi Militia Employing War

A recent economic report sheds light on the emergence of a new class of wealthy people who have accumulated fortunes as a result of military and political influence within the current war in Yemen that has been going on for 8 years.

The report issued by the Center for Studies and Economic Media, entitled: “Yemeni Economy 2021.. The War Economy and the New Rich,” said that this phenomenon is a direct product of the war, which has turned into “an important means to enrich a new class of the new political and economic elite.” Its interests are intertwined in a way that ensures that the situation remains this way, and even pushes its further exacerbation.”

The report pointed to the great wealth of influential networks close to the Houthi group through a series of commercial and investment activities enhanced by influence. And proximity to the group’s leaders, and the role they play in fueling the war.

استمرار معاناة مليوني يمني من الحصار الحوثي في تعز

Two million Yemenis continue to suffer from the Houthi siege in Taiz

and the report narrates The most prominent violations that affected the Yemeni private sector, and warned that this sector is “on the verge of collapse at the expense of a parasitic monopolistic class that benefited and benefited from chaoswar.”

The report stated that the war effort imposed by the Houthi militia has become a “means of influence and enrichment” for the leaders of the group, stressing that it has gained control of the financial and business market in the areas under its control in Yemen.

The report referred to the most prominent sources of funding for the Houthi militia, on top of which is the money that it seized from the coffers of the Central Bank during its coup in 2014, in addition to the revenues collected in its areas of control and the fees and royalties it imposes on the population. It takes possession of the money and aid of relief organizations, in addition to confiscating the assets, money and property of its opponents.

He pointed out that these funds enabled it to create a new financial empire, which led it to change the balance of power and control the market. Imports in Yemen, and these funds are managed through exchange companies away from banks, where the report counted 250 new exchange companies, which were licensed to carry out their activities during wartime in Sana’a, Saada and other governorates.

The report stated that during the war, the Houthi group granted licenses to 178 importing companies for oil derivatives to control this market, the revenues of which amount to in the areas of Its control is more than 30 billion riyals per month, and among the most prominent of these companies are “Yemen Elaf” and “Oss Oil”, which are owned by the spokesman of the Houthi group, Mohammed Abdul Salam Falitah.

The report spoke of the control of Al-Houthi group controls the market for importing and marketing medicines through companies affiliated with the leaders of the group, led by Taha Al-Mutawakil and Saleh Al-Shaer. Physicians, surgeons and anesthesia technicians to stop practicing their work for fear of complications that the patient may suffer as a result of these counterfeit medicines.