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France Warns Israel of Military Action in Lebanon

Newly appointed French Minister of Europe and Foreign Affairs Stephane Sejourne arrives to attend the first weekly meeting of the French Council of Ministers after a cabinet reshuffle at the Elysee Palace in Paris on January 12, 2024. (Reuters)
Newly appointed French Minister of Europe and Foreign Affairs Stephane Sejourne arrives to attend the first weekly meeting of the French Council of Ministers after a cabinet reshuffle at the Elysee Palace in Paris on January 12, 2024. (Reuters)
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France Warns Israel of Military Action in Lebanon

Newly appointed French Minister of Europe and Foreign Affairs Stephane Sejourne arrives to attend the first weekly meeting of the French Council of Ministers after a cabinet reshuffle at the Elysee Palace in Paris on January 12, 2024. (Reuters)
Newly appointed French Minister of Europe and Foreign Affairs Stephane Sejourne arrives to attend the first weekly meeting of the French Council of Ministers after a cabinet reshuffle at the Elysee Palace in Paris on January 12, 2024. (Reuters)

France’s Foreign Minister Stephane Sejourne delivered a direct message from President Emmanuel Macron during his visit to Israel, asserting France's pivotal role in any prospective political solution in Lebanon, according to the Israeli Public Broadcasting Corporation on Tuesday.
Tensions flared during the meeting between Sejourne and Israeli Foreign Minister Israel Katz, primarily over concerns regarding Lebanon and the hostages in Gaza.
The Arab World Press noted France's failure to provide evidence confirming the delivery of medicines to Israeli hostages in Gaza.
Sejourne issued a warning in response to Katz's declaration that time is running out for a diplomatic solution in southern Lebanon, with Israel prepared to take military action to repatriate evacuated residents.
He cautioned that France would take military measures in Lebanon to safeguard approximately 20,000 French nationals residing there in the event of conflict with Hezbollah.
Sejourne's visit to Israel included a series of high-level political meetings.
Katz urged Sejourne to pressure Qatar for evidence that medications reached hostages in Gaza.
In mid-January, France and Qatar were part of a deal to purchase and send medication to Israeli hostages held in Gaza, but Israel has not been able to verify that they reached the captives.
Unnamed sources revealed that the French Foreign Minister reiterated his country's ongoing endeavors on the matter, stressing that if the medications did not reach the hostages, there would be "grave repercussions," as per reports from the broadcasting authority.

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UN Warns of Profound Liquidity Crisis in Yemen’s Houthi-Controlled Areas

For the first time, the Houthis will face difficulties in financial transfers and foreign currency supply (local media)
For the first time, the Houthis will face difficulties in financial transfers and foreign currency supply (local media)
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UN Warns of Profound Liquidity Crisis in Yemen’s Houthi-Controlled Areas

For the first time, the Houthis will face difficulties in financial transfers and foreign currency supply (local media)
For the first time, the Houthis will face difficulties in financial transfers and foreign currency supply (local media)

A UN program recently warned of low foreign currency reserves and a liquidity crisis in Houthi-controlled areas if the economic conflict with the internationally recognized government continues in Yemen.

It also noted that the poor food consumption significantly worsened in the north, increasing by 78% year-on-year, compared to a 52% increase in the south.

In its Food Security Update, the World Food Program (WFP) warned that a banking crisis is looming in Yemen, as a transaction ban has been announced between the intentionally recognized government and the Houthis-controlled areas.

“These developments, coupled with diminished foreign currency reserves in the north, could result in liquidity crisis with profound implications on markets, livelihoods, and food security situation,” it said.

The Program also noted that the current escalation in the “economic conflict” is likely to disrupt the flow of remittances and the overall financial and banking sectors, posing significant challenges for importers to procure essential food and non-food items, and ultimately impacting food supply and food price.

According to the WFP Update, this conflict comes while limited income opportunities are a key challenge to accessing food, reported by 71% in the north and 60% in the south.

It added that the depth and severity of food deprivation (poor food consumption) also peaked in May, at 32% in the north and 31% in the south.

This trend significantly worsened in the north, increasing by 78% year-on-year, compared to a 52% increase in the south.

Severe food deprivation reached an all-time high in Al Jawf, Al Bayda, Hajjah, Amran, and Al Hodeidah, WFP said.

Around 8% of households in the north reported relying on begging to meet their essential needs, compared to three percent in the south, it showed, adding that this practice was particularly pronounced in Sadah, Hajjah, Amran, and Al Bayda.

WFP also said the total volume of fuel imported via the Red Sea ports increased by 32% during Jan-May 2024 compared to the same period in 2023.

Fuel imports via the southern ports of Aden and Mukalla decreased by 41% year-on-year, as local crude oil production from Marib largely contributes to covering domestic fuel needs in government controlled areas.

However, the WFP update said it is crucial to closely monitor import flows over the coming months, especially given the increased insurance costs for Yemeni ports, the diminished foreign currency reserves, and the banking crisis.

Also, by the end of May 2024, WFP said that the Yemeni riyal (YER) depreciated to an all-time low of YER 1,749 per dollar in government-controlled areas, losing around 25% of its value against the US dollar year-on-year.

“This decline is primarily attributed to low foreign currency reserves and revenue shortages due to reduced crude oil exports,” it said.

The UN program also noted that the overall volume of food imports via all Yemeni seaports increased by 22% during the first five months of 2024 compared to the same period in 2023.

However, it showed that the Red Sea ports saw a 35% annual rise in food imports during Jan-May 2024, while the southern ports of Aden and Mukalla exhibited a 16% annual decline.