live Oil climbs past $119 a barrel as Iran crisis squeezes global supply - Monday 9 March
Global oil prices continue to rise, currently surpassing $119 a barrel this Monday, an almost four year high following fresh U.S.-Israeli...
The U.S. State Department on Tuesday implemented the designation of Yemen’s Iran-aligned Houthi movement as a foreign terrorist organization (FTO), following President Donald Trump’s directive earlier this year.
Secretary of State Marco Rubio said the move was necessary as Houthi attacks threaten American personnel, regional security, and global maritime trade.
“The United States will not tolerate any country engaging with terrorist organizations like the Houthis in the name of practicing legitimate international business,” Rubio stated.
The designation raises fears of worsening Yemen’s humanitarian crisis, as aid groups warn that importers may avoid the country due to U.S. sanctions.
U.N. spokesperson Stephane Dujarric cautioned that limiting access to essential supplies could have “devastating humanitarian consequences” for 19 million Yemenis in need.
BIMCO security official Jakob Larsen warned the move could escalate regional tensions, affecting shipping routes in the Red Sea.
The Houthis, who control most of Yemen, have launched over 100 attacks since November 2023 on commercial ships and U.S. naval forces, claiming to act in solidarity with Palestinians in Gaza.
The group has sunk two vessels, seized another, and killed at least four seafarers.
They have also targeted Israel with missile and drone strikes.
In January, Houthi leaders warned they would resume attacks if an Israel-Hamas ceasefire failed.
The FTO designation marks a sharp policy shift. While Trump initially labeled the Houthis a terrorist group in 2021, former President Joe Biden reversed the decision, citing humanitarian concerns.
In 2023, Biden designated the Houthis as "Specially Designated Global Terrorists" (SDGT) but stopped short of the full FTO classification.
Now, under Trump’s directive, the harsher designation has been reinstated, imposing tougher economic penalties on the group.
With shipping disruptions ongoing and uncertainty over the Gaza ceasefire, experts warn the security situation in the Red Sea remains volatile.
Trump says the United States "don’t need people that join wars after we’ve already won," targeting his criticism at UK Prime Minister Keir Starmer. Israel continues to fire missles at strategic sites in Iran and Gulf regions report more strikes from Iran.
Global oil prices continue to rise, currently surpassing $119 a barrel this Monday, an almost four year high following fresh U.S.-Israeli strikes targeting oil depots. Stock markets shares slumped on fears the conflict with Iran could disrupt shipments through the Strait of Hormuz.
Mojtaba Khamenei, son of the late Ayatollah Ali Khamenei, is a hardline cleric with strong backing from the Islamic Revolutionary Guard Corps. His rise signals continuity in Tehran's anti-Western policies.
Iran named Mojtaba Khamenei to succeed his father Ali Khamenei as supreme leader on Monday (9 March), signaling that hardliners remain firmly in charge, as the week-old U.S.-Israeli war with Iran pushed oil above $100 a barrel.
Entry and exit across the state border between Azerbaijan and Iran for all types of cargo vehicles, including those in transit, will resume on 9 March, according to a statement by the Cabinet of Ministers of Azerbaijan.
U.S. President Donald Trump and UK Prime Minister Keir Starmer spoke by phone on Sunday as tensions between Washington and Westminster deepened over the conflict involving Iran. The call came less than a day after Trump criticised Britain’s response to U.S. strikes on Iranian targets.
Norwegian police are searching for a suspect after an explosion at the U.S. embassy in Oslo on 8 March caused minor damage but no injuries, in what authorities say may have been a deliberate attack linked to the Middle East crisis.
An explosion damaged a synagogue in the Belgian city of Liège early on Monday (9 March) in what authorities said was an antisemitic attack that caused damage but no injuries.
The Group of Seven (G7) finance ministers will meet on Monday to discuss a global rise in oil prices and a joint release of oil from emergency reserves coordinated by the International Energy Agency, the Financial Times reports.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 9th of March, covering the latest developments you need to know.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment