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Policy geopoliticsYemenDeveloping story

Houthis seize Perim Island and Mokha, asserting control over Bab el-Mandeb (11 Sep 2026)

On 11 September 2026 Houthi forces captured Perim Island and, earlier in the week, the Red Sea port of Mokha, giving them effective control of Yemen’s Red Sea coast and the Bab el-Mandeb maritime chokepoint and raising risks to Red Sea transit and regional energy shipments.

On 11 September 2026 Houthi forces captured Perim Island and, earlier in the week, the Red Sea port of Mokha, giving them effective control of Yemen’s Red Sea coast and the Bab el-Mandeb maritime chokepoint and raising risks to Red Sea transit and regional energy shipments.

Control of Perim and Mokha raises insurance and rerouting costs for vessels using the Bab el-Mandeb. Higher shipping costs and potential oil-route disruptions can increase import bills and pressure FX reserves and fiscal balances of oil-importing economies in the region, while exporters with Red Sea outlets could see revenue and logistical shifts. Markets will price elevated risk until secure, sustained transit resumes or international escorts reduce the threat to commercial shipping.

Monitor international naval escort decisions and any reopening/closure of Saudi/Egyptian Red Sea export routes within the next two weeks.

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