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Yemen update 10/13\2015.. Ansarullah leader slams Saudi Arabia for following US, Israeli policies

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Yemen’s Ansarullah leader slams Saudi Arabia for following US, Israeli policies

Saudi Arabia Sells Off Wealth Fund as Yemen War Cost Rises

Saudi Arabia Sells off Wealth Fund as Yemen War Cost Rises

Saudi Arabia began selling off major portions of its wealth fund’s European stocks amid the rising cost of its intervention in Yemen and falling oil prices.

Saudi Arabia has sold off significant volumes of European stocks in the midst of its invasion into Yemen and sliding oil prices, a study released by JP Morgan revealed,

RIA Novosti reported.

Saudi Arabia has sold off $1.2 billion of its $9.2 billion holdings in European equities since May, Reuters reported.

Reuters previously estimated that Saudi Arabia would spend $175 million per month for bombings and $500 million for a ground incursion.

Such an estimate would mean that Saudi Arabia has spent around $1.2 billion on bombings so far, the same sum sold off since May, not including the cost of the ground invasion. It is possible that the sell-off is linked to the Yemen incursion as it was an unplanned expense for Saudi Arabia, unlike its oil price projections and other expenditures including arming Syrian militants.

“Saudi Arabia is forced to spend big on defense and support of its allies in the region. It purchases a lot of armaments from the US …,”

Russian State Humanities University Middle East Department professor Grigoriy Kosach told RBK.

At the same time, China has been a major buyer of European stocks, acquiring $2.1 billion of shares while Singapore purchased another $1.1 billion so far this year.

The United Arab Emirates, another participant in the Yemen conflict, has sold off $300 million of its $3.6 billion holding.

The sell-offs could also be linked to falling oil prices, as oil-producing Norway has sold off around 2 percent of its own wealth fund’s European equities, considerably less than Saudi Arabia in relative terms.

UN: Yemen received only 1% of its monthly commercial fuel in Sept

Iranian official: UN failure to resolve conflicts raises questions about its role

Army Spokesman: Saudi Forces Use Chemical, Biological Weapons in Yemen’s Ma’rib

Yemeni Armed Forces Spokesman Brigadier General Sharaf Qaleb Luqman disclosed extensive use of chemical and biological weapons by Saudi-led forces in Yemen’s Ma’rib province.

“The coalition of Arab countries led by Saudi Arabia has used chemical and biological weapons in Ma’rib,” Arab media outlets quoted General Luqman as saying on Tuesday.

 In early April, a senior Yemeni military official said that revolutionary fighters have confiscated a number of Saudi trucks carrying chemical substances for the terrorists running operations in the Muslim country.

Yemeni Major General Khalid al-Barayemi said that the revolutionary forces found the chemical weapons in several Saudi trucks bound for areas under Saudi-backed ISIL and Al-Qaeda terrorists’ control.

He added that the substances seized can be used for producing Sarin gas which is a deadly weapon.

Al-Barayemi also said there is sufficient evidence that Turkish planes have recently delivered weapons into Yemen’s soil under the cover of humanitarian aid, implying that the chemical weapons substances might have been transited from Turkey.

The Yemeni official further said that Yemen’s fugitive president Mansour Hadi spoke on the phone with his Turkish counterpart Recep Tayyib Erdogan two months ago, during which he sought Ankara’s military aid.

Despite Riyadh’s claims that it is bombing the positions of the Ansarullah fighters,

Saudi warplanes are flattening residential areas and civilian infrastructures.

Saudi Arabia is known to be the main backer and financier of terrorist groups in the region.

UAE Suffers $50mln Loss for Partaking in Saudi-Led Attacks on Yemen

A UAE political expert slammed the Saudi-led aggression against the Sana’a government, saying that his country has suffered huge losses as a result of taking part in the Arab coalition’s airstrikes on Yemen.

“The Abu Dhabi government has suffered about $50 million in the war on Yemen; these expenses are not in the interest of the UAE nation and government,” UAE Economist Monem Salam told FNA on Tuesday.

 He called on the UAE government to immediately pull out of the Yemen quagmire.

Salam said that the UAE government is not only seeking political gains by taking part in the Saudi-led aggression against Yemen, but it is after its economic interests, while it has earned nothing but loss and casualties.

“The UAE regime is trying to turn Aden into the center of clashes and war in a bid to trouble the operation of the port which is considered a strategic rival for Dubai port,” he added.

He said due to Aden’s strategic location which is adjacent to Bab al-Mandab Strait and 12 percent of the world’s trade cargos passes through this waterway, the UAE sees it as a crucial threat; therefore, Abu Dhabi has tried to close down Yemen’s ports with the help of some Yemenis over the past decades.

The Yemeni revolution means the return of Aden to its role as a leading port which considerably influences Dubai and its role as one of most important economic hubs of the UAE.

On Monday, an official Emirati report said that the fatalities of the UAE military men killed in clashes with the Yemeni forces have risen to 70.

 Most of the fatalities are related to the Yemeni missile strikes on an arms depot in the Central parts of Ma’rib province on September 4 that left 54 Emirati soldiers killed, the UAE Center for Studies and Information Dissemination said.

The UAE government, however, declined to announce the exact number of the Emirati soldiers injured in Yemen.


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