The European Union rejects the Houthi decision to issue a new coin currency

SMA NEWS – GENEVA
The European Union expressed its deep concern about the decision of the Iran-backed Houthi militia to issue a 100 riyal coin, stressing that the decision leads to escalation.

The EU revealed in a statement that unilateral decisions that lead to the risk of deepening economic division undermine the banking sector and the country’s compliance with international standards for combating money laundering and terrorist financing and do not serve the cause of peace.

EU explained that constructive engagement with UN-led peace efforts represents the only way to the future.