Egypt welcomes UN-brokered agreement between Yemen’s rivals

ISTANBUL

Egypt welcomed on Tuesday a UN-mediated agreement between the Yemeni government and the Houthi group aimed at resolving the county’s 13-year crisis.

UN envoy to Yemen Hans Grundberg announced an agreement between Yemen’s warring rivals on Tuesday to de-escalate their economic conflict.

He said the agreement included cancelling all recent decisions and procedures against banks by both sides, resuming Yemenia Airways’ flights between Sanaa and Jordan, and operating flights to Cairo and India daily or as needed.

“This agreement would serve as a stepping stone towards a comprehensive resolution to the Yemeni crisis and meeting the aspirations of the Yemeni people,” the Egyptian Foreign Ministry said in a statement.

“This move aligns with Egypt's full support for all regional and international efforts in this regard,” it added.

The ministry said Egypt plans to operate a potential direct flight between Cairo and Sanaa.

On July 10, the Central Bank of Yemen suspended licenses for six of the largest banks in the country, whose headquarters are located in the capital Sanaa, which is under Houthi control.

A financial dispute has recently emerged between the government and the Houthis regarding the revenue from Yemenia Airways, with both sides accusing each other of exploiting the company's profits.

The UN envoy called on the Yemeni government and Houthis “to collaborate towards an economy that benefits all Yemenis and supports the implementation of a nationwide cease-fire and the resumption of an inclusive political process.”

Yemen is experiencing a severe financial crisis exacerbated by the halt in oil exports for the past year and a half, due to the repercussions of the conflict between the government and the Houthis, which began after Houthi rebels took control of Sanaa and several governorates at the end of 2014.

*Writing by Mohammad Sio