As Houthis attack Israel, here's why potential blockade of Red Sea would crumble global economy

On Saturday, Iran-backed Yemeni group Houthis confirmed that they had launched an attack on Israel. This was the first time during the current Israel-US war against Iran that the Yemeni group got involved. While Houthis pose far less threat to Israel than Iran, the militant group's attack raises the prospects of a broader regional confrontation and even threatens the global economy.

After conducting both strikes, Houthis said that they were targeting "sensitive Israeli military sites". Since October 7, 2023, the group has fired towards Israel many times in support of Hamas, a Palestinian militant group, amid the ongoing war in Gaza.

However, these attacks do little damage to Israel. Where the Houthis pose a bigger threat to the world is their control of the coast of Yemen.

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The Red Sea debacle

As part of their support for Hamas, the group targeted shipping coming through the Bab al-Mandab Strait at the southern end of the Red Sea, between Yemen and the Horn of Africa. Their action then endangered that key commercial maritime route.

If they were to do so again, it would be another big blow to the global economy. A blockade of the Red Sea, coupled with Iran's near-closure of the Strait of Hormuz, two of the main strategic waterways in the world for trade and energy supplies, could hit the global economy hard.

Apart from this, the Houthis could also target energy and military infrastructure in their Gulf Arab neighbours, such as Saudi Arabia and the United Arab Emirates, as it has done before. Hence, the question now remains how far this Yemeni movement would go.

There is also the issue of Yemen itself, which has been relatively calm for some time after years of turbulence and war. A deepening military involvement by the Houthis in the war between the US, Israel and Iran could trigger a new outbreak in that internal conflict as well. Overall, if Houthis continue and intensify their attack, the world runs into the concern of witnessing a wider West Asia conflict.