Yum commands fails with "IndexError: tuple index out of range"

Issue

Using any yum command leads to the following python traceback:

# yum check-update
Loaded plugins: enabled_repos_upload, fastestmirror, package_upload, product-id, rhnplugin, search-disabled-repos, subscription-manager
Traceback (most recent call last):
  File "/usr/bin/yum", line 29, in <module>
    yummain.user_main(sys.argv[1:], exit_code=True)
  File "/usr/share/yum-cli/yummain.py", line 375, in user_main
    errcode = main(args)
  File "/usr/share/yum-cli/yummain.py", line 170, in main
    base.getOptionsConfig(args)
  File "/usr/share/yum-cli/cli.py", line 283, in getOptionsConfig
    e = '%s: %s' % (to_unicode(e.args[1]), repr(e.filename))
IndexError: tuple index out of range
Uploading Enabled Repositories Report
Loaded plugins: fastestmirror, product-id, rhnplugin, subscription-manager
Unable to upload Enabled Repositories Report