The Houthis made the announcement in an email sent to shippers and others and are separately planning to release a military statement, likely about the decision.
The announcement likely won't be enough to encourage global firms to re-enter the route that's crucial for cargo and energy shipments moving between Asia and Europe.
The attacks have halved traffic through the region, cutting deeply into revenues for Egypt, which runs the Suez Canal linking the Red Sea to the Mediterranean.
The Houthis, through their Humanitarian Operations Coordination Centre, made the announcement by saying it was "stopping sanctions" on the other vessels it has previously targeted since it started attacks in November 2023.
However, it left open resuming attacks against both the United States and the United Kingdom, which have launched airstrikes targeting the rebels over their seaborne assaults.
"In the event of any aggression ... the sanctions will be reinstated against the aggressor state," the centre said. "You will be promptly informed of such measures should they be implemented."
The Houthis have targeted about 100 merchant vessels with missiles and drones since the Israel-Hamas war in the Gaza Strip started in October 2023, after Hamas' surprise attack on Israel that killed 1200 people and saw 250 others taken hostage.
Israel's military offensive in Gaza has killed over 46,000 Palestinians, according to local health officials.
The Houthis have seized one vessel and sunk two in a campaign that has also killed four sailors.
Other missiles and drones have either been intercepted by separate US- and European-led coalitions in the Red Sea or failed to reach their targets, which have also included Western military vessels.
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