Houthis Announce Naval Blockade of Saudi Arabia — 7% of Global Oil Supplies at Risk

Yemeni Houthis have announced the imposition of a naval blockade against Saudi Arabia, which, given the situation in the Strait of Hormuz, could cause serious disruptions in the global energy market.

This was reported by Reuters.

According to the news agency, on July 20, the Houthi militant group announced the immediate imposition of a naval embargo against the “criminal Saudi enemy” on an “eye for an eye” basis.

Representatives of the movement emphasized that this decision was a response to what they called an “unjust and oppressive siege” that Saudi Arabia has allegedly imposed on Yemen.

A complete blockade of the Bab al-Mandab Strait, the southern entrance to the Red Sea, could halt Saudi oil exports to Asian countries and reduce global oil supplies by approximately 7%.

At the same time, the war with Iran has already led to a 10% reduction in global oil supplies.

Even if no ships are attacked, the Houthis’ statement alone is likely to create additional uncertainty for shipping and the operations of Saudi ports.

Last week, the Houthis launched missile strikes on Saudi Arabian territory, accusing the kingdom of bombing an airport under their control.

This effectively broke the four-year ceasefire in the conflict between Saudi Arabia and the Houthi group.

Back in March, the Houthis announced the possibility of blocking the Bab al-Mandab Strait in support of Iran.

An additional threat to maritime security in the region is the resurgence of Somali pirates, whose activities, according to available assessments, may be supported by Iran.

Earlier, it was reported that Somali pirate groups had significantly stepped up their activities in the Gulf of Aden — one of the world’s key maritime trade routes, through which up to 15% of global maritime cargo traffic passes.