Saudi Arabia and other Gulf countries have postponed their crucial negotiations with Iran regarding the future of the Hormuz Strait due to a lack of agreement among Arab countries and increasing Saudi anger towards Tehran. This comes as new missile and drone attacks by Houthi forces have targeted military sites in Saudi Arabia.
Impact of Houthi Attacks on Oil Prices
The recent Houthi attacks, particularly on King Khalid Air Base in Khamis Mushait, have caused serious damage to Saudi military infrastructure. This situation has led to an increase in oil prices, with the price of oil rising to over $108 per barrel. Last week, Tehran-backed militia groups in Iraq forced Saudi Arabia to shut down a vital east-west pipeline used for oil exports.
Read more: Delay in the meeting of Gulf countries and Iran regarding transit in the Hormuz Strait
Delay in Negotiations and Its Reasons
The negotiations between the Gulf Cooperation Council and Iran, which were supposed to lead to the signing of a temporary agreement for a new trade transport route, have been postponed due to a lack of agreement among Arab countries. Oman's Foreign Minister, Sayyid Badr al-Busaidi, announced that this decision was made to preserve agreement and cohesion in the region. These negotiations, which had not been held for two years, were supposed to be the first direct meeting between Iran and the main Gulf Cooperation Council countries.
Iran has set several preconditions for reopening the Hormuz Strait, including a request for the lifting of sanctions against Iranian oil ports and the return of frozen assets. However, these negotiations have been quickly affected by the advances of the Houthis in Yemen and recent attacks on Saudi pipelines.
While the Saudi government continues to support the Yemeni government based in Aden, it is trying to take the initiative. The Yemeni government has announced that due to recent Houthi advances, 150 civilians have been killed and 200 others injured, with about 85,000 people forced to leave their homes.
Read more: Postponement of the Hormuz meeting at the request of Saudi Arabia · Oman's Energy Minister: The Hormuz Strait will reopen
