Yemen's Iran-backed Houthi rebels entered the monthlong Middle East war on Saturday, claiming a barrage of ballistic missiles at what they described as 'sensitive Israeli military sites' in southern Israel.
KEY TAKEAWAYS
Israel said it intercepted the missiles. Sirens sounded around Beer Sheba and near Israel's main nuclear research centre. Lebanon-based Hezbollah militants also fired on Israel overnight.
Houthi Brigadier General Yahya Saree announced the attack on the rebels' Al-Masirah television station. Israeli rescue service Magen David Adom said 11 people were lightly wounded in a town near Jerusalem.
The Shipping Risk
If the Houthis increase attacks on commercial shipping, as they have in the past, it would further push up oil prices and destabilise 'all of maritime security,' said Ahmed Nagi, a senior Yemen analyst at the International Crisis Group.
The impact would not be limited to the energy market.
— Ahmed Nagi, International Crisis Group
Between November 2023 and January 2025, Houthis attacked over 100 merchant vessels with missiles and drones, sinking two ships. They said they were acting in solidarity with Palestinians in Gaza during the war between Israel and Hamas.
About 12% of world trade typically passes through the Bab el-Mandeb strait at the southern tip of the Arabian Peninsula. About 10% of global maritime trade, including 40% of container ship traffic, passes through the Suez Canal each year.
Alternative Routes Strained
Countries have scrambled for alternative routes since Iran closed the Strait of Hormuz. Saudi Arabia has been sending millions of barrels of crude oil daily through Bab el-Mandeb as a workaround. If the Houthis resume attacks on that route, the redundancy collapses.
The Houthis' involvement would also complicate deployment of the USS Gerald R. Ford, the aircraft carrier that arrived in Croatia on Saturday for repairs. Sending it to the Red Sea could draw attacks similar to those experienced by the USS Dwight D. Eisenhower in 2024 and the USS Harry S. Truman in 2025.
Diplomacy and Skepticism
Pakistan said regional powers plan to meet Sunday on how to end the war. Iran expressed skepticism about diplomatic efforts.
There could be limited relief after Iran agreed Friday to allow humanitarian aid and agricultural shipments through the Strait of Hormuz following a UN request. Israeli airstrikes continued Saturday, with AP footage showing smoke rising from northeastern Tehran. Iran fired missiles toward Israel in retaliation.
The Houthis have held Yemen's capital, Sanaa, since 2014. Their entry into the war adds another front to an already sprawling conflict, and their track record suggests they will target economic pressure points rather than purely military objectives. For a global economy already reeling from oil shocks, that is an ominous development.
TLDR
Yemen's Iran-backed Houthi rebels entered the monthlong Middle East war on Saturday, claiming a barrage of ballistic missiles at Israeli military sites. Israel said it intercepted the missiles. The Houthis' involvement threatens Red Sea shipping: between November 2023 and January 2025, they attacked over 100 merchant vessels, sinking two. About 12% of world trade passes through Bab el-Mandeb strait. Regional powers plan to meet Sunday on how to end the war, while Iran expressed skepticism about diplomatic efforts. The USS Gerald R. Ford has arrived in Croatia for repairs.
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