On July 20, 2026 (local time), Yemen's Iran-aligned Houthi rebels declared a complete naval blockade against Saudi Arabia, throwing another bomb into an already unstable global energy market.

The Houthi rebels emphasized that this measure takes effect immediately, and concerns have been raised that if passage through the Bab el-Mandeb Strait at the entrance of the Red Sea is blocked, approximately 7% of global oil supplies could be reduced. This, combined with the already-closed Strait of Hormuz due to conflict between the United States and Iran, is portending an unprecedented impact on the global economy.

Yahya Saree, a Houthi rebel spokesman, stated regarding the blockade declaration that "following the principle of 'an eye for an eye,' we declare a naval blockade against our Saudi enemies, the criminal state, and this takes effect immediately." The blockade is a retaliatory measure against Saudi Arabia's blockade of Houthi ports and airports and its strike on Sana'a Airport, the capital, last week (July 13).

Previously, on July 13, the Houthi rebels strongly condemned Saudi Arabia for bombing Sana'a Airport under their control. In retaliation, they attacked airports within Saudi Arabia and declared an end to the existing ceasefire, escalating tensions to their highest level. The declaration of this naval blockade represents the peak of this series of hardline responses.

[Photo=Yonhapnews]

The Bab el-Mandeb Strait is a key maritime passage connecting the Red Sea and the Gulf of Aden. If passage through this strait is blocked, most of Saudi Arabia's crude oil exports would be effectively cut off. This could lead to serious consequences of reducing approximately 7% of global oil supplies, raising expectations of direct shocks to the international energy market.

To make matters worse, the Strait of Hormuz, through which 20% of global energy shipments pass, is already closed due to armed conflict between the United States and Iran. Warning bells are sounding that a "dual crisis" situation, with both the blockade of the Strait of Hormuz and the threatened Bab el-Mandeb Strait, could have catastrophic effects on global supply chains and economic security. This has the potential to shake the entire global economic system beyond a mere regional conflict.

The Houthi rebels' declaration of this naval blockade is a major event that adds unprecedented uncertainty to an already unstable Middle Eastern situation and global energy market. The threat to the Bab el-Mandeb Strait following the Strait of Hormuz will serve as a complex crisis for the global economy and security, and international attention is focused on how the international community will respond to the possibility of this dual blockade.