What happens if the Red Sea and Strait of Hormuz are blocked? - The Globe and Mail

Reuters

Published July 23, 2026

A new threat is emerging in one of the world's most important shipping lanes. Yemen's Iran-aligned Houthi militia has declared a naval blockade on Saudi Arabia, raising fears over oil supplies and global trade. What does this latest escalation mean for the Iran conflict and for the global economy?

Reuters

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