Strait of Hormuz, breaking news! Thailand and Iran reach an agreement! According to media: Houthi forces "join the fight"

Breaking news.

According to Xinhua News Agency, Thai Prime Minister Anutin stated on the 28th that to address the crisis of rising domestic oil prices caused by the situation in the Middle East, the Thai Ministry of Foreign Affairs has been actively communicating with relevant countries. Based on the agreement reached with Iran, Thai oil tankers can safely pass through the Strait of Hormuz.

On the same day, Anutin held a media briefing at the Government House to explain the government’s measures in response to oil price fluctuations. He said that the government will focus on four areas: diplomatic coordination, energy security, commodity price control, and ensuring people’s livelihoods, and called on the public to jointly implement energy-saving measures to cope with the situation.

Thai Foreign Minister Phiphat Ratchakitprakarn stated that Thailand has proposed to convene a special ASEAN foreign ministers’ meeting to discuss solutions to alleviate tensions. Thailand currently has stable oil reserves, and the government is actively seeking additional energy sources through diplomatic channels.

On March 11, a Thai cargo ship was attacked while sailing in the waters of the Strait of Hormuz, with 20 crew members rescued and 3 crew members missing.

In addition, the situation in the Middle East may escalate again. The Israel Defense Forces stated on the 28th that they detected a missile fired from Yemen towards Israel. According to Israeli media reports, the missile has been intercepted. The Jerusalem Post reported that the Houthi forces in Yemen launched a ballistic missile towards southern Israel that day, marking the Houthis’ “entry into the war.”

The report stated that alarms sounded in southern Israeli towns. This was the first attack by the Houthis against Israel in the ongoing war.

On the 27th, the Houthi forces in Yemen announced that against the backdrop of escalating tensions in the Middle East, the organization had set three conditions for possible military intervention and warned that if the preset conditions arise, they would take direct military action.

On the 27th local time, large-scale rallies were held in the Yemeni capital Sana’a and in areas controlled by the Houthis to commemorate the 11th anniversary of the outbreak of the Yemeni conflict and to show solidarity with Iran.

On that day, thousands gathered in Sana’a’s Al-Seventy Square to commemorate the 11th anniversary of the Yemeni conflict’s outbreak. Meanwhile, participants expressed solidarity with Iran and Lebanon, condemning the U.S. and Israel for their attacks on Iran and Lebanon. Houthi officials on-site emphasized that they are fully prepared for military involvement if necessary.

Analysts believe that if the conflict involving the U.S., Israel, and Iran continues, the Houthis do not rule out blocking the Bab-el-Mandeb Strait again, which could lead to heightened tensions in the Red Sea. As one of the world’s most important shipping routes, the safety of the Red Sea shipping lanes will face new challenges. Given the current blockage of the Strait of Hormuz, such a move could further impact global energy and food supply chains, leading to widespread and severe ripple effects.

What are the impacts of the tense situation in the Middle East on the world economy? Expert analysis→

The ongoing conflict triggered by U.S. and Israeli attacks on Iran has escalated, causing disruptions in the Strait of Hormuz, a critical transit route for global energy and goods, impacting the world economy. What are the implications of this conflict for the global economy?

Energy security issues are impacting global supply chains and financial markets.

Li Zixin, assistant researcher at the China Institute of International Studies: The U.S.-Israel-Iran conflict has multi-dimensional impacts on the globe, and its influence has already far exceeded regional boundaries. To some extent, it is reshaping the world political and economic order, with the global economy being dragged down by the conflict, potentially slipping into a risk zone of stagflation. In the current crisis context, the most immediate issue is the energy security crisis, which is also the most direct transmission chain of the conflict. The Strait of Hormuz, as the throat of global energy, has seen shipping almost come to a standstill in the past few weeks. This has not only led to a dramatic increase in crude oil prices compared to before the conflict but has also highlighted the extreme vulnerability of the global energy supply chain. Its impact has transcended mere oil price increases, evolving into comprehensive restrictions on a series of upstream and downstream industrial chains, threatening the stability of the global supply chain.

Although the International Energy Agency has released a large amount of oil reserves, it has not alleviated market anxiety. Expectations of worsening military confrontation and prolonged strait blockades have intensified risk-averse sentiment in financial markets, forcing central banks of various countries into a dilemma between combating inflation and stabilizing growth, delaying the interest rate cut cycle.

The U.S.-Israel-Iran conflict may accelerate global economic transformation.

Li Zixin, assistant researcher at the China Institute of International Studies: On a deeper level, this crisis may also accelerate the transformation of the global economic structure. On one hand, the conflict highlights the risks of over-reliance on a single fossil energy channel. On the other hand, the lessons learned from supply chain disruptions may be pushing global trade from prioritizing efficiency to prioritizing security and resilience, prompting diversification in industrial chain layouts. Additionally, the conflict has also impacted the foundation of the petrodollar system, which may accelerate the process of de-dollarization and diversification of the international monetary system. Thus, this conflict could serve as a catalyst for deep adjustments in the global energy landscape, supply chain configuration, and financial order.

Compiled from: Xinhua News Agency, CCTV News

Proofread by: Li Lingfeng