MIDDLE EAST ECONOMY

Mohammed al-Farah, a member of the political bureau of the Houthi movement, said Yemen's armed forces were prepared to close the Bab el-Mandeb Strait if Saudi Arabia continued military operations against Yemen.

Though sanctions on Iranian oil exports have been waived as part of the ceasefire deal with the U.S., Tehran could face not having any interested buyers.

Ships moving through the Strait of Hormuz are now subject to a multi-tiered clearance process by Iran's Islamic Revolutionary Guard Corps, which can include affiliation checks, inspections, and diplomatic intervention, according to a new report.

While sanctions and inflation already battered the Iranian economy before the war with the United States and Israel, the conflict has pushed millions of Iranians closer to unemployment and poverty, according to a new report.