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Saudi Arabia’s Cabinet says Houthi attacks on Kingdom target global economy

Published: Updated:

Saudi Arabia’s Cabinet said on Tuesday the recent attacks by Yemen’s Houthis on the Kingdom’s oil facilities targeted the world economy, state news agency SPA reported.

“The Cabinet considered the two terrorist attempts to target Ras Tanura port and the residential area in the city of Dhahran as flagrant violation of all international laws and norms, and to the extent that such treacherous and cowardly attempts target the Kingdom, they actually target in a greater degree the world economy,” the statement read.

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The Saudi authorities said on Sunday Iran-backed Houthis fired an explosive-laden drone at the Ras Tanura Port, site of a refinery and the world’s biggest offshore oil loading facility.

And shrapnel from a ballistic missile launched towards the Kingdom fell near a residential area in the city of Dhahran, used by the world’s biggest oil company, Saudi Aramco.

A Ministry of Energy spokesperson said both attacks did not result in any injury or loss of life or property.

The attacks drove Brent crude prices above $70 a barrel to their highest since January 2020, while US crude futures touched their loftiest since October 2018.

The Saudi Cabinet “followed the measures taken by the Kingdom to protect its national capabilities and gains in a way that preserves the security of world energy, stop terrorist attacks to guarantee the stability of energy supplies, oil exports security and guarantee free maritime navigation and international trade,” SPA reported.

The Houthi attacks are the latest in a series of escalated cross-border aerial assaults on the Kingdom by the Iran-backed militia in Yemen.

In 2019, Saudi Arabia, the world’s top oil exporter, was shaken by a big missile and drone attack on oil installations just a few km (miles) from the facilities hit on Sunday, which Riyadh blamed on Iran, a charge Tehran denies.

That attack, which was claimed by the Houthis but which Riyadh said did not originate from Yemen, forced Saudi Arabia to temporarily shut more than half of its crude output, causing a huge price spike.

- With Reuters

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