Houthis seize 2 strategic Red Sea islands, and other Mideast developments

Key Points:

• Yemen's Houthi rebels have seized the strategic Greater and Lesser Hanish islands in the southern Red Sea, enhancing their control over the Bab el-Mandeb Strait, a vital maritime shipping route for Saudi oil exports.
• Repairing a Saudi Arabian oil pipeline damaged in a recent attack could take three to five weeks, potentially limiting crude oil exports and increasing pressure on global oil supplies and prices.
• Iran accused Saudi Arabia of causing the postponement of a regional meeting on the Strait of Hormuz, while also condemning Austria for denying visas to Iranian nuclear officials attending an IAEA conference amid ongoing nuclear tensions.
• Nearly 94,000 Yemenis have been displaced due to intensified fighting between Houthi rebels and government forces, raising fears of a return to civil war; meanwhile, Israeli strikes in Gaza killed two people amid continuing regional conflict.
• The U.S. imposed full sanctions on Russia's VTB Bank, accusing it of assisting Iran in evading sanctions, as part of broader efforts to disrupt Iran's financial networks amid ongoing geopolitical tensions.