Economic

Yemen's fractured monetary system is on the brink of further division. The Houthi group has introduced new unilateral monetary measures, issuing new coins and banknotes in an attempt to consolidate financial control, undermine their rivals, and sustain the war economy. On July 13, the Houthi-affiliated Central Bank of Yemen in Sana’a (CBY-Sana’a) issued a new 50-rial coin. Two days later,…

The Middle East is undergoing profound shifts following the Israeli strikes on Iran. These developments have far-reaching consequences that extend beyond the Islamic Republic, particularly influencing the situation in Yemen. The Houthi group (Ansar Allah) has emerged as the last effective stronghold of the so-called Axis of Resistance, especially after the weakening of its other pillars, most notably Hezbollah. Although…

Yemen has witnessed profound changes over the last decade as the country's political geography disintegrated and non-state actors rose to prominence. It is now a fragmented state, where “Yemeni tribes—especially in the northern provinces ... control large portions of the country’s territory and perform state-like functions.” With the collapse of state institutions, tribes have sought to become an alternative to…

Ever since the internationally recognized government fled from Sana’a after the Houthi takeover in 2014, it has failed to develop a strategy to adapt to its new environment and the challenges it poses. Instead, it has continued to act as if nothing has happened, and only a few tweaks are required to keep going. This can be seen clearly in…

At a May 6 press conference with the Canadian prime minister, US President Donald Trump announced a ceasefire with the Houthis (Ansar Allah). Trump said the group had agreed to end attacks on the US Navy and maritime shipping transiting the Red Sea in exchange for an immediate halt to US airstrikes in Yemen. Each side claimed the other had…

Over the past few days, Yemen has witnessed a series of dramatic developments that could profoundly reshape the local and regional dynamics of the conflict. First, the Houthis succeeded in breaching Israeli air defenses with a ballistic missile attack targeting Ben Gurion Airport. Second, Israel launched a markedly more destructive response, striking economic infrastructure in Yemen and rendering both the…

Since the inauguration of the new US administration, Washington has adopted a fiercer stance against the Houthis, the last resilient pillar of the pro-Iranian Axis of Resistance. The Houthis are the only Iranian ally that have had their power increase in the conflagration with Israel. Their attacks against commercial shipping in the Red Sea were viewed as a global threat…

On March 15, US President Donald Trump ordered a series of “decisive and powerful” airstrikes targeting Yemen’s Houthis in response to the group’s attacks on commercial and military vessels in the Red Sea. The operation marks the most significant US military engagement in the Middle East since Trump retook office, with the stated aims of degrading Houthi capabilities and sending…

When they first emerged from the “Believing Youth” movement in 2004, no one could have imagined the Houthis—a small group of local rebels fighting with traditional weapons— would evolve into a military and political force with influence extending across the regional and international landscape. But the Houthis’ development was not merely a matter of geographic expansion or enhanced military capabilities;…