International researchers report that the Houthis earn $180 million monthly from maritime piracy activities.

A recent report from the United Nations Security Council’s sanctions committee on Yemen reveals alarming details about the Houthi militia’s use of maritime piracy to generate significant revenue. This activity represents a clear violation of established financial sanctions.

Monthly Revenue from Shipping Agencies

The annual report, submitted to the Security Council on October 11, 2024, and made public on Friday, indicates that the Houthi militia collects approximately $180 million each month. This revenue comes from shipping agencies that pay fees to ensure the safe passage of their vessels through the Red Sea and Gulf of Aden.

Coordination with Houthi Affiliates

The investigative team received information suggesting that shipping agencies coordinate with a company linked to a high-ranking Houthi leader. The report highlights that these fees are deposited into various accounts through banking operations, which may involve money laundering activities tied to trade.

Illegal Financial Practices

Sources estimate that the Houthis generate around $180 million monthly from these illegal transit fees. The report emphasizes that the Houthis rely on unlawful methods to finance their military operations. They utilize various networks operating across multiple jurisdictions, including shell companies and currency exchange firms, to support their activities.

Involvement in Smuggling Operations

Furthermore, the report points to the Houthis’ involvement in smuggling weapons, drugs, dual-use communication equipment, pesticides, pharmaceuticals, and cultural properties from Yemen. These actions not only threaten regional stability but also violate international laws.

The findings underscore the urgent need for international attention and action to address the ongoing challenges posed by the Houthi militia in Yemen.

 

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