Houthis announce naval blockade of Saudi Arabia amid US-Iran tensions

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Yemen's Iran-backed Houthis have declared a naval blockade of Saudi Arabia. Global oil prices briefly rose amid fears of a closure of the Bab el-Mandeb Strait.

Yemen's Houthis, backed by Iran, have announced the imposition of a naval blockade on Saudi Arabia, which could open a new front in the confrontation between the US and Iran. This was reported by Reuters, writes UNN.

Details

According to the agency, the Houthi statement came despite signals of a possible resumption of diplomatic negotiations between Tehran and Washington aimed at curbing further escalation. Iran's Foreign Ministry said it had received "proposals" through intermediaries but did not disclose their content.

Reuters notes that after the Houthi statement, global oil prices briefly rose but later fell due to market hopes for a diplomatic settlement. At the same time, the cost of insuring shipping through the Red Sea increased due to rising risks for commercial transport.

Brent oil price exceeds $90 due to escalation between the US and Iran20.07.26, 04:57

According to the agency, Iran is pressuring the Houthis to block the Bab el-Mandeb Strait if US strikes on Iranian energy infrastructure continue.

Reuters emphasizes that a complete closure of the Bab el-Mandeb Strait could reduce global oil supplies by approximately 7%, as a significant portion of Saudi oil exports would lose the ability to leave the region. This could further worsen the situation in the energy market, which has already suffered losses due to hostilities in the Persian Gulf area.

Iran asked the Houthis to be ready to block the Red Sea in case of a US strike - Reuters16.07.26, 17:33

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