Saudi Arabia has launched airstrikes on Iran's Houthi proxy in Yemen, a move that has sent oil prices soaring and marked a significant escalation in regional conflict. The strikes, which targeted Sanaa International Airport, occurred as a ceasefire brokered by former President Donald Trump appears to have collapsed.
Houthi rebels confirmed the airstrikes on the airport, with a spokesman for the group declaring an "end to the de-escalation phase" and warning that "aggression will not go unanswered or unpunished." Reports indicated that the attack occurred as an Iranian aircraft was attempting to land at the airport. Evacuation orders have since been issued for the airport and its surrounding areas.
The Saudi-led military alliance has been engaged in a decade-long conflict against the Iranian-backed Houthi rebels, who are based in northern Yemen. The Houthi rebels are a proxy force for Iran.
Iran's foreign ministry stated that the developments have impacted ongoing negotiations, asserting that Trump's previous memorandum of understanding with Iran has entered a "crisis phase." This comes amid rising tensions over control of the Strait of Hormuz, a critical chokepoint for global oil transportation.
Oil prices surged over three percent early Monday following the renewed military strikes. The renewed hostilities have drawn the United States further into the escalating conflict.