Houthis vow retaliation, oil prices surge after U.S., UK air strikes

There are fears of regional conflict escalation and a surge of oil prices after the United States and Britain launched air strikes on Yemen on Thursday, aiming at the Houthis that started attacking international ships in the Red Sea late last year.

The strikes brought mixed reactions from multiple countries across the world, including those in Europe, Asia and the Middle East.

Reactions

The U.S. and its allies said in a joint statement that the strikes were "in accordance with the inherent right of individual and collective self-defense."

Yemen's Houthis said the strikes would not go without "punishment or retaliation," adding that the group will continue to target ships headed for Israel in the Red Sea.

Meanwhile, other countries, including Russia and Iran, condemned the strikes and worried they could escalate the situation in the region.

Russia's Foreign Ministry spokeswoman Maria Zakharova said the strikes showed a "complete disregard for international law" and were "escalating the situation in the region."

Iran's Foreign Ministry spokesman Nasser Kannani said, "These attacks are a clear violation of Yemen's sovereignty and territorial integrity, and a breach of international laws, and will only contribute to insecurity and instability in the region."

Lebanon's Hezbollah group said the American aggression confirms once again that the U.S. is a full partner in the tragedies and massacres committed by the Zionist enemy in Gaza and the region."

Other countries, including China and Saudi Arabia, urged restraint and called for "avoiding escalation" after the strikes.

"We urge the relevant parties to keep calm and exercise restraint to prevent the conflict from expanding," Chinese Foreign Ministry spokesperson Mao Ning said.

Fears of escalation

The Houthis, an armed movement that took control of most of Yemen over the past decade, have been attacking shipping at the mouth of the Red Sea – one of the world's busiest trade lanes – since October. The action is in support of Hamas, according to the group.

The Houthi attacks have disrupted international commerce, forcing some ships to take the long route around southern Africa, increasing delivery costs and time and stoking fears of a new bout of global inflation.

The route, which links Europe and Asia and Africa via the Suez Canal, accounts for about 15 percent of the world's shipping traffic.

The price of oil rose sharply due to concern that supplies could be disrupted. Brent crude rose $2. The jump in prices sparked concerns about a fresh spike in inflation that could complicate central bank pivots to a more dovish monetary policy this year, reviving worries about the economy.

The strikes, the first by the United States on the Yemeni territory since 2016, marked a substantial escalation of the crisis in the Red Sea, said Niu Xinchun, professor of Ningxia University's China-Arab Research Institute. 

Niu said neither the U.S. nor the Houthis had expected the situation would develop this far, adding that the likelihood of a further escalation or the continuation of the current status is high.

The United Nations Security Council will hold an urgent meeting on Friday afternoon to discuss the strikes on Yemen by the U.S. and the UK. 

(With input from agencies)