Resumption of oil exports: Will Yemen recover its economic lifeline?

The announcement by the head of Yemen’s Presidential Leadership Council, Rashad al-Alimi, to resume oil exports starting July 20 following a halt that began in late 2022 has revived hope that the Yemeni government’s most important source of foreign currency will be restored. The government, struggling economically and facing continued Houthi rebel control over Yemen’s northwest, needs the money – and has pledged to direct the revenues towards paying salaries, improving services, and supporting economic stability.However, the flow of oil from Yemen’s fields to global markets does not depend solely on a decision made by politicians; it requires creating a security environment, after years of war, that allows for the protection of facilities, pipelines and ports, in addition to restoring the confidence of shipping and insurance companies, as well as international buyers.Recommended Stories list of 4 itemslist 1 of 4Yemen’s Houthis claim attack on two Saudi oil tankerslist 2 of 4Between hope and fear: Yemenis react to Houthi blockade on Saudi Arabialist 3 of 4Rubio says Iran ‘begging’ for a deal with US but not ready to make onelist 4 of 4How shipping insurance rates are rising, as Hor...