Bankers about the dollar editions decision: Al-Houthi circumvents US sanctions, launders money and loots people's savings
English - Monday 01 November 2021 الساعة 07:54 am
Sana'a, NewsYemen, private:
Banking sources in Sana'a attributed the recent decisions issued by the Houthi militia, the Iranian arm in Yemen, regarding dealing in old and new US dollar notes to the fact that they have specific objectives for the financial and investments of the militias and their leaders, especially after the recent US sanctions that affected banking institutions and personalities collaborating with the militias.
The Houthi militia, through its appointed leaders in the Central Bank in Sana’a, had issued circulars to banks, companies, commercial, private and civil institutions, ruling to stop dealing in the US dollar currency (the blue denomination) - that is, the new edition that started in 2009 and beyond - whether by withdrawal or creativity and limiting dealing with the white dollar currency. The same category of issuance in 2003 and 2006 AD and until further notice, with an emphasis on stopping the sale and purchase of foreign currencies against the Yemeni riyal or other foreign currencies except after coordination with the Payments and Foreign Exchange Committee, and the necessity of providing the Central Bank, which is under the control of militias, the balances of the treasuries of banks, companies and institutions of white dollars And blue.
The sources told NewsYemen that the aim of these measures is for the Houthi militias to seek to circumvent the effects and consequences of the US sanctions that were imposed on parties and persons responsible for managing the militias’ funds, and preparing the banking market in their areas of control to carry out money laundering operations for the militias under the pretext of dealing in the white dollar category. Not to mention the militias’ efforts to loot the savings of banks, exchange companies, commercial establishments, and even individuals of the blue dollar category and exchange them for dollars of the old category 2003 and 2006 AD to make it easier for militia leaders to transfer what they will seize from the blue dollar currency internally and externally in speculative operations and money laundering in a convincing manner.
The sources said: Everyone remembers that the Houthi militia practiced the same procedures with regard to domestic gas cylinders after its coup against the authority and its control over state institutions by linking their distribution to the lanes’ axis, which enabled them to seize the new citizens’ cylinders and replace them with old cylinders, most of which are damaged, in agreement with gas merchants in the areas Their control and under the supervision of the gas company under their management, thus securing their homes with new cylinders, and at the same time obtaining a large amount of money from merchants who replaced their damaged cylinders with new citizens’ cylinders, and entering with them into investment and commercial partnerships in this field, noting that the banking militias’ own dollar procedures are similar To a large extent, this operation whose goal is theft and looting of people.
Last June, the US Treasury imposed sanctions on several parties and individuals, including Yemenis and Syrians, on charges of helping finance the Iranian Revolutionary Guards and collecting funds for Houthi militias from selling many commodities, including Iranian oil.
The banking sources that spoke to NewsYemen confirm that these sanctions had negative repercussions on the financial transfers of the Houthi militias, especially in terms of sending money to be invested abroad, which negatively affected the ability of the militias to continue their financial and banking policies that enable them to hide, which they are trying to confront with procedures and policies. It believes that it will benefit it in circumventing the sanctions and disposing of its stock of the old US dollar currency, and carrying out internal and possibly external money laundering operations under the cover of banking procedures and policies with other formal objectives.
