Is it time for China to rethink its Houthi policy?

China's economy is heavily reliant on oil imports from Saudi Arabia, which makes up 14% of its total crude imports. Recently, the Houthis, a Yemen-based militia backed by Iran, targeted King Khalid International Airport in Riyadh, killing 20 people and injuring over 370. This is the most recent in a series of attacks on Saudi infrastructure, including oil facilities, which have caused significant damage and casualties.

These attacks come after the US-Israeli war against Iran in February, which led Iran and its proxies to retaliate against America's Gulf allies. Beijing, China's capital, has condemned the attacks and called for restraint, but the situation is now more complex. Saudi Arabia is using its East-West pipeline to export oil via the Red Sea, bypassing the Strait of Hormuz, which has kept global oil prices at a tolerable level.

However, the Houthis have advanced to control Bab al-Mandab, blocking the route of Saudi oil tankers to East Asian customers. This has led to a surge in global oil prices, surpassing $100 per barrel. China is now faced with a dilemma, as it needs to maintain good relations with both Saudi Arabia and Iran. Beijing has been working to balance its relationship with both countries, but the situation has become increasingly difficult.

The Houthis' attacks on Saudi oil infrastructure have strained China-Saudi relations, and Beijing may need to offer more substantive help to Saudi Arabia. However, the options available to Beijing are limited, as it needs to maintain good relations with both Saudi Arabia and Iran.