Houthis Eye Oil-Rich East After Seizing Red Sea Port
The Iran-backed Houthi rebels in Yemen have extended their reach to a key maritime chokepoint and are now eyeing the oil-rich east of the country. The Houthis stormed down the Red Sea coast, capturing the port city of Mokha and several islands near the Bab el-Mandeb strait, through which 12% of world trade passes in peacetime.
The Houthi advance has given Iran another potential source of leverage as the United States starts to loosen its grip on the Strait of Hormuz. The Houthis are also firing at Saudi oil facilities and tankers, with an attack on a Saudi pipeline blamed on Iran-backed militias in Iraq.
Regional mediators have sprung into action, but a diplomatic agreement appears unlikely without some kind of breakthrough in the wider Iran-US conflict. Oman hosted a meeting between US and Houthi representatives last weekend, while Saudi Crown Prince Mohammed bin Salman recently visited Egypt to try and lower tensions.