The exclusion of Yemeni businessmen .. Details of companies and banks’ support for the Houthis for money laundering and oil trade


Today (Saturday) a report by the Regain Yemen Initiative presented a blacklist containing the names of Houthi authorities and leaders, commercial companies and banks involved in providing the Houthis with oil trade and money laundering.

The report revealed a set of information and details about the black market and how it is managed by the Houthis, and the involvement of commercial companies with banks and local exchange companies to smuggle Iranian oil and money laundering in favor of financing the Houthi militia in its war on the Yemeni people, with unlimited Iranian support.

The initiative explained in a statement that the Houthis worked to exclude Yemeni businessmen and escalated others belonging to them, and established oil companies with the aim of circumventing international and US sanctions, as well as to feed their treasury and finance their wars to prolong the conflict in the country, indicating that there are about 30 companies used by the Houthis as a front for importing Iranian oil, some of which operate in the liberated areas.

The statement stated that these companies work with intermediary companies in exchange for the latter receiving large price differences between the purchase price and the selling price in the stations, stressing that the intermediary companies were registered in the names of Houthi leaders of the second and third ranks as new businessmen, and bank accounts were opened for them in the commercial banks located Under its control, after it disrupted the role of the Anti-Money Laundering Department in the Central Bank, and ignored the investigation about the funds of the owners of these companies, their field of work, and the source of capital.

The report stated that the most prominent of these intermediary companies are Star Plus and Black Diamond, which are owned by Salah Felita, brother of Houthi spokesman Muhammad Abdul Salam, and that the Black Diamond Company is affiliated with a number of other companies, including Zaracon Company for Import and Trade Center, Top Food Company, and Good Hyper Trading Company. , where she opened accounts in banks to conduct business without investigation or auditing according to international standards for banks, which the report spoke of possessing confidential information and documents confirming this.

He pointed out that one of the banks was involved in the process of importing Iranian oil derivatives, and was involved in smuggling the militia’s money to the Lebanese “Hezbollah”, after documents were proven about transfers from the same bank abroad without the arrival of oil derivatives in most cases, in addition to two other banks that provided facilities. A big deal for the Houthis, by creating bank accounts with fake checks, and transferring the balance in favor of Houthi leader Ibrahim Mutahir Al-Moayad, the financial director of the militia and head of the financial department of the Houthi Defense Ministry, a step aimed at concealing the source of checks and accounts that are considered governmental and were withdrawn with overdrawn balances with the Central Bank of Yemen, which controls It is the Houthi militia.

The report disclosed that the facilities provided by one of the banks were in the name of Black Diamond Company, which also transferred funds to more than one company, including Al-Sharafi Oil Derivatives Trading Company. Companies, head to the exchange market, and engage in speculation in the currency market on behalf of the militia, taking advantage of the time difference between receiving amounts from retail traders in riyals and delivering them in dollars to import dealers, at the same time that the militia’s exchangers benefit in the currency market.

In its recommendations, the initiative demanded not to grant any imported fuel shipments through the companies mentioned in the report entry licenses to Yemen’s ports and to adopt government conditions to qualify companies wishing to import fuel to Houthi areas, as well as to approve the ports of legitimate areas to import oil derivatives to Yemen in the liberated areas, calling on all banks Commercial companies, financial companies and exchange companies are required to audit all documents of companies importing oil derivatives so that they are not exposed to local, regional and international sanctions.

The report recommended the international community and the relevant and competent authorities to tighten control and examination procedures for the documents of oil ships, as well as the quality of derivatives and their compliance with specifications, and to know the sources of those shipments in accordance with international resolutions to limit Iran’s supply of the Houthi militia with derivatives, which the militias use as a main source of financing its war on Yemen and the Yemeni people.

And it appealed to the international and local community to issue a blacklist of everyone who was proven to be involved in financing the Houthi militia with oil and to impose sanctions on it or anyone who provides any facilities to do so.

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