The Zhitong Finance App learned that in the context of the Iran war continuing to disrupt global oil supply, Saudi Arabia has always relied on the Red Sea route as an alternative export channel to the Strait of Hormuz to maintain its crude oil exports. However, the fragility of this circumvention strategy has recently been fully revealed — the Yemeni Houthis, supported by Iran, once again escalated their threat to Red Sea shipping, resumed attacks on ships near the Strait of Mande in early July, and directly announced an immediate maritime blockade against Saudi Arabia on July 20.

The Zhitong Finance App learned that in the context of the Iran war continuing to disrupt global oil supply, Saudi Arabia has always relied on the Red Sea route as an alternative export channel to the Strait of Hormuz to maintain its crude oil exports. However, the fragility of this circumvention strategy has recently been fully revealed — the Yemeni Houthis, supported by Iran, once again escalated their threat to Red Sea shipping, resumed attacks on ships near the Strait of Mande in early July, and directly announced an immediate maritime blockade against Saudi Arabia on July 20.