Independent UN sanctions monitors accused Yemen's government of money-laundering and corruption "that adversely affected access to adequate food supplies" and said the Houthi group collected at least $1.8 billion in state revenue in 2019 to help fund its war effort.
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The annual report to the UN Security Council on the implementation of international sanctions on Yemen coincides with UN officials saying that the country is on the verge of a large-scale famine with millions of civilians at risk.
The monitors said Saudi Arabia deposited $2 billion with the Central Bank of Yemen in January 2018 under a development and reconstruction program. The money was intended to fund credit to buy commodities - such as rice, sugar, milk and flour - to strengthen food security and stabilize domestic prices.
The UN investigation found that Yemen's Central Bank broke its foreign exchange rules, manipulated the foreign exchange market and "laundered a substantial part of the Saudi deposit in a sophisticated money-laundering scheme" that saw traders receive a $423 million windfall.
