An Iranian-supported faction has issued a warning about implementing a naval blockade against a US partner as tensions escalate in the Middle East.
The Yemeni rebel group, known as the Houthis, has announced their intention to shut down the Bab el-Mandeb Strait, a crucial Saudi maritime route connecting the Red Sea, following the closure of the Strait of Hormuz during the US-Iran conflict.
The Strait of Hormuz was sealed by Iran in response to joint US-Israeli airstrikes on key Iranian installations. This strategic water passage facilitated the transport of 20% of the world’s oil supply, causing disruptions in oil flow and impacting global markets.
In a statement, the Houthis’ armed forces declared a maritime embargo against Saudi Arabia, citing retaliation for what they perceive as an unjust blockade imposed on Yemen by the Saudis.
Saudi Arabia swiftly denounced the Houthi blockade announcement and accused Riyadh of imposing a siege on the Yemeni population. The legitimate Yemeni government also condemned the Houthis’ statement.
The Saudi-led coalition in Yemen has vowed to safeguard shipping routes and retaliate forcefully against the Houthis’ actions, labeling the threats as a violation of international law akin to maritime piracy.
Should the Bab el-Mandeb strait be completely closed, it would result in a 7% reduction in global oil supply, preventing most Saudi oil exports from reaching international markets, according to the Sydney Morning Herald.
The potential closure of the strait could introduce a new conflict front in the US-Iran confrontation and lead to a substantial decline in oil exports from the Gulf region.
Following the Houthi announcement, oil prices briefly surged but later stabilized as traders remained hopeful for a diplomatic resolution to the escalating situation.
