An economic expert reveals a Houthi decision that led to the collapse of the Yemeni economy

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A Yemeni economic analyst revealed a Houthi decision to bring disaster to the economy in Yemen, and the militias started money laundering operations through it.

Economic researcher Waheed Al-Fawdaei said in a television interview on Al-Hadath channel, “The decision to float oil derivatives issued by the militias in July 2015 was an entry point for laundering looted money through a promising sector, which is the oil sector in Yemen.”

He pointed out that the militias began in the collection stage since the fall of the capital, Sanaa, in its control in September 2014 until 2016.

Al-Fawdaei explained that: “More than 30 oil derivatives import companies act as a front for Houthi leaders and officials, and intermediate oil companies in the name of Houthi leaders, the most important of which are Black Diamond Company and Super Plus Company affiliated with Salah Felitah, brother of Abdul Salam, his official spokesman for the Houthis.”

He added, “The net revenues of oil derivatives under the control of the Houthi coup during two years and four months amounted to 1.9 billion dollars, most of which belong to Houthi influencers for the period (2019, 2020, and the first quarter of 2021), and its net revenues during 2015 and 2016 are estimated to be equivalent to 2.8 billion dollars. “.

He said: “The average daily need for oil derivatives in Houthi-controlled areas is about 10 million liters, which are sold on the black market, while 100 riyals per liter go to the Houthi treasury (this is added as the cost of fees, customs and levies and is not related to the above).”

He stressed that the Houthi militias “earn from all this one billion riyals per day, or 365 billion riyals annually, estimated in two and a quarter years, 1.9 billion dollars (2019, 2020, first quarter of 2021).”

This comes in light of the continuing fuel crisis under the control of the Houthi militia, in addition to the interruption of salaries for 5 years, which has caused the worst humanitarian crisis in the world.



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