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Arab League Welcomes Saudi-Iran Agreement

Arab League Secretary-General Ahmed Aboul Gheit - File/AFP
Arab League Secretary-General Ahmed Aboul Gheit - File/AFP
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Arab League Welcomes Saudi-Iran Agreement

Arab League Secretary-General Ahmed Aboul Gheit - File/AFP
Arab League Secretary-General Ahmed Aboul Gheit - File/AFP

The Arab League welcomed on Saturday the announcement that Saudi Arabia and Iran had agreed to restore diplomatic relations.

Arab League Secretary-General Ahmed Aboul Gheit said the agreement would end the state of tension between the two countries that lasted for more than seven years.

He also said the agreement could mark a new positive phase in bilateral relations, which may lead to achieving a level of stability in the region.

The Sec-Gen further hailed "the efforts exerted by China, Iraq and the Sultanate of Oman in this regard."

A tripartite statement issued by Saudi Arabia, Iran, and China said Riyadh and Tehran agreed to reopen their embassies and restore representation within a period of two months. They also agreed to activate the security cooperation agreement between them.

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US Imposes Sanctions on Yemen Bank, Citing Support to Houthis

Signage is seen at the United States Department of the Treasury headquarters in Washington, DC, US, August 29, 2020. (Reuters)
Signage is seen at the United States Department of the Treasury headquarters in Washington, DC, US, August 29, 2020. (Reuters)
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US Imposes Sanctions on Yemen Bank, Citing Support to Houthis

Signage is seen at the United States Department of the Treasury headquarters in Washington, DC, US, August 29, 2020. (Reuters)
Signage is seen at the United States Department of the Treasury headquarters in Washington, DC, US, August 29, 2020. (Reuters)

The United States unveiled sanctions Thursday on a Yemen bank, including its key leaders, citing its support for Houthi militants in that country.

The designation of the International Bank of Yemen (IBY) complements a government effort "to stop Iran-backed Houthi attacks against commercial shipping in the Red Sea," said the US Treasury Department.

The Houthis launched an armed coup in 2014, seizing control of the capital Sanaa and other several provinces.

Since November 2023, the Houthis have targeted shipping lanes using missiles and drones in what they say is solidarity with Palestinians in Gaza, where a brutal war has raged since October that year.

"Financial institutions like IBY are critical to the Houthis' efforts to access the international financial system and threaten both the region and international commerce," said Deputy Treasury Secretary Michael Faulkender in a statement.

The official said the US government was "committed to working with the internationally recognized government of Yemen."

Thursday's action follows a designation in January of the Yemen Kuwait Bank for Trade and Investment.

In a separate statement, the US State Department added that Washington was "committed to disrupting Houthi financial networks and banking access."

Besides the IBY, key leaders targeted in Thursday's actions are Kamal Hussain Al Jebry, Ahmed Thabit Noman Al-Absi and Abdulkader Ali Bazara, the Treasury Department said.

As a result of sanctions, property and interests in property of designated individuals in the United States are blocked and must be reported.