A recent report by the United Nations Group of Experts on Yemen stated that the Houthis are waging a comprehensive economic war instead of the military war, which has calmed down somewhat as Yemen is now divided into two distinct regions in terms of currency, trade, and economy.

Experts said that the Houthis implemented a deliberate set of coercive economic measures related to the maritime, land and air sectors to paralyze the activity of the Government of Yemen and prevent it from performing its functions. Attacks on maritime assets, the ban on crude oil exports, the diversion of international trade from Aden to Hodeidah, the closure of roads, the ban on major local trade activities such as the trade in cooking gas, and the recent freezing of funds for the Yemeni national airline, are just some of the One of the indicators of the Houthi strategy.”

They pointed out that "the monetary and economic stability in Yemen is at risk due to the continued ban on certain series of banknotes issued by the Central Bank of Yemen in Aden, the possibility of using counterfeit banknotes and passports, and the ongoing skirmishes between the two central banks regarding regulatory issues."

Experts pointed out that, following the attack on the Dabbah oil terminal, the government lost revenues amounting to about $1.2 billion annually. The shift in imports from Aden to Hodeidah led to a huge loss of revenue amounting to 637.36 billion Yemeni riyals incurred by the government.

In their report, they confirmed that the Houthis had achieved “a significant gain” since the start of the truce in April 2022, estimating that the government had lost about 64 billion Yemeni riyals annually in revenue due to the Houthis’ ban on purchasing domestic gas from Ma’rib.

Experts also confirmed that in March 2023, the Houthis began “treating the areas under government control as foreign territory for customs purposes, which effectively led to the division of Yemen into two countries.”

Experts reported that regional and international factors, such as the agreement between Saudi Arabia and Iran, mediated by China, have, during the recent period, strengthened calm efforts in Yemen, with the Houthis continuing to enhance their land and sea military capabilities, including underwater, increasing their arsenals of missiles and drones, and achieving financial gains. Significant since the start of the calm in April 2022.

The experts of the Security Council Sanctions Committee added in their latest report that widespread violations related to the arms embargo were observed, as military equipment such as ballistic missiles, cruise missiles, anti-ship missiles, drones, waterborne improvised explosive devices, and vehicles were used in those violations. The four-wheel drive vehicle, which was modified to carry various weapons systems, was displayed by the Houthis during the military parades held in Hodeidah and Sanaa in September 2022.