Global RiskNews Briefs

Hopes of peace in Yemen as President hands power to new presidential council

A newly formed president council has replaced Yemen’s President Abd-Rabbu Mansour Hadi in a bid to support UN efforts to end the seven-year civil war in the country. The eight member council replaced Hadi who has been President for a decade. 

The war is seen as a proxy war between Saudi Arabia and Iran and has been fought between a Saudi-led military coalition and the Houthi rebel group, backed by Tehran. Through this humanitarian crisis, tens of thousands of people have been killed and millions left on the brink of starvation. Saudi Arabia and the United Arab Emirates have pledged $3 billion to the Yemen Central bank after the announcement of the council formation. The council was called upon to begin negotiations with the Iran-backed Houthis. The Houthis have not yet commented on the new council. 

Read more: Hopes of peace in Yemen as President hands power to new presidential council

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