Yemen Quint Meeting Backs Truce Extension

A Yemeni man walks next to his three-year-old daughter in Sanaa (UN)
A Yemeni man walks next to his three-year-old daughter in Sanaa (UN)
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Yemen Quint Meeting Backs Truce Extension

A Yemeni man walks next to his three-year-old daughter in Sanaa (UN)
A Yemeni man walks next to his three-year-old daughter in Sanaa (UN)

A quint meeting, which included Saudi Arabia, Oman, the UAE, the US and the UK, has affirmed its support for extending the UN-sponsored truce in Yemen as a step towards reaching a permanent ceasefire and achieving a comprehensive political settlement.

While the five nations expressed concern about the continuation of the siege of Taiz, they called on Houthi militias to show flexibility in negotiations.

Apart from open roads immediately, the group stressed on Tuesday that Houthis must allow the use of state revenues, including the revenues of the port of Hodeidah, to pay the wages of civil servants.

UN Special Envoy Hans Grundberg was warmly welcomed as a guest at the meeting, as was David Grisley, UN Resident Coordinator and Humanitarian Coordinator for Yemen, to discuss the derelict oil tanker, Safer.

The quint meeting reaffirmed strong commitment to the unity, sovereignty, independence, and territorial integrity of Yemen, as well as his commitment to support the people of Yemen.

The five nations also hailed the continuation of the truce, which has brought tangible benefits to the Yemeni people since it was concluded on April 2. They stressed the need to maintain and develop this progress, which requires compromise on all sides.

The quint meeting fully supported the efforts of Grundberg to extend and expand the truce on August 2, as well as to fully implement all the conditions of the truce.

It agreed that a final ceasefire and a permanent political settlement should be the end goals of the UN-led process and that such a settlement should be based on previous agreements and relevant UN Security Council resolutions.

Moreover, the group of five welcomed the continued implementation of the confidence-building measures agreed by the Government of Yemen, including facilitating the delivery of fuel to the port of Hodeidah and the resumption of some commercial flights to and from Sanaa Airport.

They underlined the need to improve the freedom of movement of civilians throughout Yemen, stressing that constructive engagement with the UN is essential to a sustainable solution to the issue of road reopening.



Lebanon Bans Dealing with Hezbollah Financial Entity

A view shows Lebanon's Central Bank building in Beirut, Lebanon April 4, 2025. REUTERS/Mohamed Azakir/File Photo
A view shows Lebanon's Central Bank building in Beirut, Lebanon April 4, 2025. REUTERS/Mohamed Azakir/File Photo
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Lebanon Bans Dealing with Hezbollah Financial Entity

A view shows Lebanon's Central Bank building in Beirut, Lebanon April 4, 2025. REUTERS/Mohamed Azakir/File Photo
A view shows Lebanon's Central Bank building in Beirut, Lebanon April 4, 2025. REUTERS/Mohamed Azakir/File Photo

Lebanon's central bank has banned banks and brokerages from dealing with a Hezbollah-affiliated financial institution, according to a circular, a sign of the group's diminished sway over state affairs since its devastating war with Israel.

Keeping up military pressure on the Iran-backed group, Israel on Tuesday launched some of its heaviest airstrikes since a ceasefire in November, saying it hit training camps and weapons depots in east Lebanon. A security source in Lebanon said 12 people were killed, five of them Hezbollah fighters, Reuters reported.

Hezbollah has faced mounting pressures since the war, including financial ones.

In the circular, dated July 14 and reviewed by Reuters, Banque du Liban prohibited all licensed financial institutions in Lebanon from dealing directly or indirectly with unlicensed entities and listed Hezbollah's Al-Qard Al-Hassan as an example.

The US Department of Treasury imposed sanctions on Al-Qard Al-Hassan in 2007, saying Hezbollah used it as a cover to manage "financial activities and gain access to the international financial system".

Bolstered by its powerful arsenal, Hezbollah had long exercised decisive influence over Lebanese state affairs, but it was unable to impose its will in the formation of a post-war government in February.

Al-Qard Al-Hassan, founded in 1983, describes itself as a charitable organisation which provides loans to people according to Islamic principles that forbid interest. Israel struck some of its branches during its war with Hezbollah last year.

Operating as a not-for-profit organisation under a licence granted by the Lebanese government, it has more than 30 branches, mostly in southern Lebanon and the Bekaa Valley.

SHADOW ECONOMY

A Lebanese official said the central bank move had been in the works for months, and reflected US pressure on Lebanon to take action against Hezbollah's financial wing.

Nassib Ghobril, chief economist at Byblos Bank, said Lebanese banks were already careful to avoid dealing with Al-Qard Al-Hassan because it is under US sanctions.

"The important point is that finally the authorities are addressing the shadow economy in Lebanon, which is the real problem," he said, adding that authorities had long failed to address its "toxic effects".

In June, the European Commission included Lebanon in an updated list of high-risk jurisdictions presenting strategic deficiencies in their national anti-money laundering and countering the financing of terrorism.

Last year, global financial crime watchdog FATF placed Lebanon on its "grey list" of countries under special scrutiny.