How global trade and oil prices could be hit by Houthi advance
Yemen's Houthis have seized territory near the Bab al-Mandab Strait - a key trade gateway for oil and global shipping.
Iranian President Masoud Pezeshkian has warned that pressure from the United States is now at a critical and dangerous stage during his visit to India. Addressing this issue ahead of a BRICS summit, Pezeshkian highlighted that the world is currently experiencing unprecedented complexity. He criticized the use of economic levers of pressure, stating that they only serve to worsen the situation.
Iran has faced heavy sanctions for years, and the pressure has intensified in recent months following military aggression from the US and Israel in late February. These strikes on Iran were followed by retaliatory actions, including the closure of the Strait of Hormuz, a crucial waterway for global energy transit, which led to a surge in energy prices worldwide.
Pezeshkian emphasized that when a country is subjected to political and military pressure on its trade, energy, infrastructure, and financial systems, the consequences extend beyond its borders. He is currently on his first official visit to India and is set to meet with Prime Minister Narendra Modi later on Friday.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Pezeshkian says pressure on Iran at critical, dangerous stage freemalaysiatoday.com
- ‘Economic pressures on Iran in far more dangerous phase’: Pezeshkian accuses US, Israel of ‘active aggression’ hindustantimes.com
- Lightning Houthi advance in Yemen may bring dangerous new dimension to Iran war bbc.co.uk
