IRGC claims strikes on US assets in Jordan, Kuwait following major US attacks; Saudi Arabia proposes multinational maritime security coalition

Saudi Arabia has announced plans to establish a multinational maritime defence coalition to safeguard international shipping and energy supply routes in the Red Sea, Bab el-Mandeb Strait, and Gulf of Aden, following escalating attacks by Yemen's Iran-backed Houthis.

 

The proposed alliance, unveiled during a meeting attended by representatives from 43 countries and the European Union, would be headquartered in Saudi Arabia, which would also serve as its founding and leading member.

 

A joint statement supporting the initiative was endorsed by 14 countries, including Pakistan, Bahrain, Bangladesh, Djibouti, Egypt, Jordan, Kuwait, Nigeria, Qatar, Somalia, Sudan, Türkiye, and Yemen. Notably, Oman and the UAE were absent from the list of supporters.

 

The announcement comes as regional tensions intensify. Iran's Islamic Revolutionary Guard Corps (IRGC) claimed it launched missile and drone attacks on US military assets in Jordan, Kuwait, and Bahrain following overnight US strikes on Revolutionary Guards' command centres and drone facilities. Washington denied Iranian claims of damage to its forces, saying all incoming missiles and drones were intercepted or failed to reach their targets.

 

Meanwhile, a drone strike at Egypt's Damietta Port raised concerns over the security of the Suez Canal, while Houthi attacks on Red Sea shipping have prompted insurers to expand high-risk zones along Saudi Arabia's coastline.

 

Despite the continued exchange of strikes between Iran and the United States, oil prices eased, as markets took comfort that Iran's oil infrastructure remained untouched. Brent crude fell 0.9% to $87.29 per barrel, while US WTI crude traded largely unchanged at $84.44 per barrel.