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Sanaa Raises the Stakes of Economic Warfare: Is Yanbu Moving Into the Crosshairs?
New Escalation in the Red Sea
A well-informed military source told Al-Akhbar that Sanaa forces intend to increase military pressure on Saudi Arabia in the coming days, with the possibility of expanding the maritime ban imposed on Saudi vessels to include foreign vessels doing business with the Kingdom.
According to the source, the potential escalation could include:
Targeting the Saudi oil export route from the port of Yanbu.
Adding oil-loading terminals in Yanbu to the list of military targets.
Continuing pressure on large tankers heading north through the Red Sea.
Seeking to halt or reduce Saudi oil exports shipped through Yanbu, with the aim of strangling the Saudi economy.
The most serious development came swiftly.
On August 24, Sanaa announced that it had targeted the Saudi oil tanker “Amzan” with a ballistic missile off Saudi Arabia’s western coast, approximately 63 nautical miles from Yanbu. Maritime reports indicated that the tanker caught fire, while authorities reported that its crew was safe.
This development is significant because Yanbu is not simply a Saudi port; it is a major outlet for Saudi oil exports to the Red Sea. Consequently, threatening tanker traffic departing from Yanbu opens a direct front against Saudi Arabia’s energy and supply chain.
Since the escalation of the maritime blockade, Sanaa says it has carried out dozens of operations against Saudi targets. On August 19, its spokesman announced 31 operations over the course of one month, including attacks on eight Saudi oil tankers and the interception of 48 Saudi tankers, according to the Yemeni account, which Riyadh has not confirmed.
Reuters also reported in July that three tankers carrying Saudi crude were forced to alter course in the Red Sea following Yemeni warnings.
The equation is changing:
If Sanaa moves from targeting Saudi vessels to targeting every foreign vessel dealing with Saudi ports or Saudi oil, the issue would no longer be merely a Yemeni-Saudi confrontation. It could develop into a broader crisis affecting global maritime security and energy supplies.
More importantly, Saudi Arabia has already begun exploring special insurance mechanisms to address rising war-related risks to shipping, including a government-backed insurance scheme that could provide coverage of up to 700 million Saudi riyals per incident.
Sanaa is making its position clear:
The equation is no longer:
“Strike Yemen and negotiate later.”
The new equation is:
The wider the war against Yemen becomes, the greater the cost of the war for Saudi Arabia.
And the most sensitive question remains:
Can Riyadh protect its oil exports through the Red Sea if Yanbu itself comes under sustained military pressure?