Yemen’s Iran-aligned Houthis said on Monday they were imposing a naval blockade on Saudi Arabia, a move that threatens ​to escalate the conflict in the region and disrupt global energy supply and trade beyond ​the Gulf.

The Houthis’ armed forces, in a statement, said they were ⁠declaring “a maritime embargo against the criminal Saudi enemy, based on ​the equation of ‘an eye for an eye’, effective immediately”.

They said the decision ​was in response to what they called “an unjust and oppressive siege” imposed on Yemen by the Saudis.

There was no immediate response from Saudi Arabia.

The full closure ​of the Bab el-Mandeb strait, the southern gateway to the Red Sea, ​would halt Saudi oil exports to Asia and could reduce global oil supply by 7%.

The Iran war has ‌already ⁠lowered global supply by 10%.

“The question now is whether they will begin targeting vessels heading to Saudi ports. At this stage, there’s no clear answer,” said Mohammed Albasha, a Yemeni ​analyst and founder ​of Basha Report, ⁠a Washington-based risk advisory firm.

“Even if no ships are attacked, the announcement alone is likely to disrupt shipping ​and create uncertainty for Saudi ports. Whether the ​Houthis move ⁠from threats to direct action remains the critical issue,” he said.

The group fired missiles at Saudi Arabia last week after accusing the kingdom of bombing ⁠an ​airport under its control, piercing a four-year ​truce in the conflict between the kingdom and the Iran-aligned group.