- In a lightning offensive last week, the Houthis seized control of Yemen's Red Sea coast and the Bab al-Mandab Strait, vital to Saudi crude exports as the wider Middle East war chokes the Strait of Hormuz.
- On Tuesday, Qatar warned of dire consequences if Bab al-Mandab was closed, saying it would be "catastrophic for the entire world".
- Saudi Arabia and Egypt demand an open Red Sea as Riyadh vows a response to the Houthi attacks.
- Disruption in the strait could cause Egypt to feel the pinch too, as the Red Sea serves as the gateway to the Suez Canal, upon which Cairo relies for crucial foreign revenue; canal revenues are currently around half of what they were before the Houthis first started attacking Red Sea shipping in 2023.
Saudi Arabia and Egypt have united in demanding open navigation in the Red Sea following a series of attacks by Yemen's Houthi rebels, who have seized control of the Bab al-Mandab Strait, a crucial maritime route for global trade.
The Houthis' renewed aggression, which began in July, has raised alarms in Riyadh, prompting Crown Prince Mohammed bin Salman to meet with Egyptian President Abdel Fattah al-Sisi in Cairo. They emphasized the need for "ensuring the freedom and security of maritime navigation" through both the Bab al-Mandab and the Strait of Hormuz, vital for Saudi crude exports.
The Houthis have declared a maritime blockade on Saudi vessels, claiming no threat exists for other shipping. However, disruptions in the strait could severely impact Egypt, which relies on the Red Sea as a gateway to the Suez Canal. Canal revenues have reportedly halved since the Houthi attacks began in 2023, which the group claims are in solidarity with Palestinians amid the ongoing conflict in Gaza.
Qatar has warned that a closure of the Bab al-Mandab would be "catastrophic for the entire world," highlighting the global implications of the conflict. As tensions escalate, the international community watches closely, with fears that the situation could further destabilize the region.
“Houthis seized Yemen's Red Sea coast and Bab al-Mandab Strait last week, threatening Saudi crude exports as the Strait of Hormuz is choked. Egypt's Suez Canal revenues are already around half of pre-2023 levels, when Houthi attacks on Red Sea shipping began.”
