Why the Houthi advance in Yemen could threaten global trade?
Yemen’s fragile post-2022 calm is collapsing as Houthi forces expand along the Red Sea coast and seize strategically important territory near Bab al-Mandab. But the story goes far beyond Iran and the Houthis. It is rooted in Yemen’s religious and political history, shaped by Saudi-Iranian rivalry and now linked to Gaza, global shipping, energy security and the future of Yemen itself.
Yemen is once again moving towards a war whose repercussions may extend far beyond the Arabian Peninsula. After the UN-mediated truce of 2022, the country’s major front lines remained relatively quiet for several years. But September 2026 has rapidly changed the picture.
Houthi forces have advanced along Yemen’s western coast, seized the strategic port of Mokha and taken control of the Greater and Lesser Hanish islands in the southern Red Sea. At the same time, forces aligned with Yemen’s intern...