Iraq Under Pressure as Iran-Backed Militias Attack Saudi Pipeline
The Iraqi government is racing to contain the fallout from attacks on a key Saudi pipeline by Iran-backed militias. The attacks, which originated in Iraq's Maysan province, have put pressure on the country to prevent local militias from aiding other Iran proxy groups across the region.
The East-West pipeline, built in the 1980s, has played an important role in Saudi Arabia's ability to export oil following the disruption of the Strait of Hormuz during the Iran war. The pipeline was shut down as a precautionary measure after coming under drone attack, with Saudi Arabia blaming several drones that came from Iraq.
The attacks have significant implications for global trade, with around 12% of global trade passing through the Bab el-Mandeb Strait, which has been seized by the Iran-backed Houthi rebels. The Houthis' control of the strait could send global oil prices spiraling, especially as the Iran-U.S. war has already inflated prices.