The CEO of Kuwait Flour Mills and Bakeries Co. says the company is ready to tap into its strategic reserve should the need arise
Kuwait has strategic foodstuff reserves to cover ‘four to eight months’ of consumption, amid regional tensions following attacks on oil facilities in neighbouring Saudi Arabia.
"Kuwait Flour Mills and Bakeries Co. is ready to face any circumstance caused by the situation in the region by tapping its strategic foodstuff reserve, which covers four to eight months," said the state-owned company's chief executive, Mutlaq al-Zayed, cited by Kuwait’s state news agency, KUNA.
Yemen's Houthi group claimed responsibility for the attacks but a US official said they originated from southwestern Iran. Tehran, which supports the Houthis, has denied any involvement in the attacks.
Yemen's Houthi rebels unexpectedly announced on Friday that they planned to halt all attacks on Saudi Arabia as part of a peace initiative to end their country's conflict, five years after they captured the capital Sanaa.
The announcement comes after a wave of drone strikes last weekend on Saudi oil installations knocked out half of the kingdom's production and sent shock waves through regional and global markets.