Economic crisis 

Yemen’s economy is in tatters. Rounds of currency depreciation and increases in the cost of fuel and other key commodities, have pushed millions into poverty. And the war - alongside the ravages of climate change - has severely crippled agricultural production. There are now fears the food security situation is likely to worsen further from June, the peak of the lean season. 

Recent tit-for-tat measures imposed by all parties have already begun to affect money transfers between the north and south, upon which many Yemenis are reliant for survival.   

Prospects for peace 

The recent militarisation of the Red Sea now signifies a worrying escalation in the conflict. There have been reports of casualties and thousands of livelihoods in Hudaydah governorate have already been affected due to the disruption of the fishing industry. Vital shipping lanes could also be impacted, hampering imports into Yemen, and further destabilising the region.  

Proscribing or designating the Houthis – a key party to the conflict, which controls territory where most of the Yemeni population live – will only make it harder to secure a sustainable and inclusive peace. Further extreme sanctions could endanger both imports of food and essential commodities which Yemen is nearly fully reliant on, and the operation of humanitarian agencies like Oxfam.  

Ferran Puig, Oxfam Country Director in Yemen, said “The recent escalation of violence in Yemen should shame all parties and the international community at large.  

“The last thing Yemen needs is further conflict. Nine years of war have cost the people of Yemen their lives and livelihoods. It is past time to bring an end to this war. All parties and the international community need to work much harder to bring about a lasting, inclusive peace.” 

Increased humanitarian aid is crucial to prevent widespread famine and disease outbreaks. Doubling diplomacy to achieve comprehensive peace, ensuring adequate funding and allowing unimpeded humanitarian access are essential steps. 

More broadly, a permanent ceasefire in Gaza is urgently needed - not only to save lives and prevent further suffering among Gazans - but also to reduce the chance of further escalation in Yemen and across the region.