Global Economy at Risk as US-Iran Conflict Escalates

The global economy is at risk due to the escalating conflict between the U.S. and Iran. The Houthis, backed by Iran, have taken control of key Red Sea islands and are threatening commercial shipping through the Bab el-Mandeb Strait, which handles about 12% of the world's trade.

The vice president of Yemen's internationally recognized government warned that the Houthi militias' actions could take hostage the entire global economy. He urged the international community to prevent the rebels from getting weapons and technology.

Meanwhile, France has pledged to send military assets to protect the key Saudi oil terminal of Yanbu from potential Houthi attacks. This move comes after Iran's foreign minister announced that his country had shared a 7-day plan with U.S. mediators, which would include opening the Strait of Hormuz at the end of the seven days and restarting talks.

Sen. John Kennedy has called on President Xi Jinping to assist the U.S. in resolving the conflict, stating that China could open up the Strait of Hormuz with a phone call.