Saudi Arabia implements measures pushing Bank of Aden toward bankruptcy

ADEN, Dec. 17 (YPA) -Riyadh has implemented fresh sanctions against the UAE-backed Southern Transitional Council (STC), in response to the STC’s refusal to withdraw from Hadramout and Mahra Governorates, media outlets reported.

According to the sources, Saudi Arabia has suspended the deposit of the final installment of a grant totaling 1.38 billion Saudi riyal, to the Bank of Aden. This comes hours after Riyadh suspended issuing entry permits for vessels bound for the Port of Aden.

The sources noted that this new measure will push the Central Bank in Aden toward bankruptcy , amidst mounting backlogs in public sector wages and the looming collapse of the power grid as fuel reserves reach critical exhaustion.

This restriction effectively isolates the STC and blocks the arrival of ships—specifically those from the UAE—carrying fuel and military supplies.

@E.Y.M