An Iranian-backed faction has issued a warning about enforcing a maritime blockade against a United States ally amid the escalating conflict in the Middle East.
The rebel group known as the Houthis in Yemen has announced intentions to shut down the Bab el-Mandeb Strait, a crucial Saudi water passage leading out of the Red Sea, in response to the closure of the Strait of Hormuz during the US-Iran conflict. Iran had initially closed the vital Strait of Hormuz in retaliation to joint strikes by the US and Israel on key Iranian sites. This closure significantly impacted global oil trade, as the strait accommodated 20% of the world’s oil transportation.
The armed forces of the Houthis released a statement declaring a maritime embargo against Saudi Arabia, citing the need for reciprocal action due to what they deemed an unjust siege imposed on Yemen by the Saudis.
Saudi Arabia has condemned the Houthi group’s announcement of a naval blockade, accusing them of besieging the Yemeni people. The Yemeni government, recognized internationally, also criticized the Houthi statement.
The Saudi-led coalition in Yemen has pledged to safeguard shipping routes and respond forcefully to the actions of the Houthis, labeling the threats as a violation of international law and akin to maritime piracy.
Should the Bab el-Mandeb Strait be completely shut down, it would lead to a 7% reduction in global oil supply, affecting the export of Saudi oil. The closure could introduce a new conflict dimension in the US-Iran war and result in a significant decline in oil flow from the Gulf region.
Following the Houthi announcement, oil prices experienced a brief increase but later stabilized as traders remained hopeful for a diplomatic resolution.