The Iran-backed Houthis in Yemen say they have launched a barrage of missiles against Israel - the first since the start of the US-Israel war with Iran.

The group said in a statement that it had targeted sensitive Israeli military sites and vowed to continue such attacks. Israel said it intercepted one missile coming from Yemen.

The entry of the powerful Iranian proxy into the conflict raises fears of further disruption to the world economy as the armed group has the capacity to attack shipping in the Red Sea.

Houthis consider themselves to be part of a so-called axis of resistance that also includes other groups financed by Iran, such as Hezbollah in Lebanon and Hamas in the Gaza Strip.

Yemen has been devastated by a civil war that began 12 years ago, when the Houthis seized control of the country's northwest from the internationally recognised government, prompting a Saudi-led coalition supported by the US to intervene in an effort to restore its rule. Crucially, they control Yemen's Red Sea coastline.

The involvement of the Houthis in the conflict began with US and Israeli strikes on Iran on February 28, which was largely expected. Their military spokesman had previously stated that their forces were ready for immediate intervention if countries joined the US-Israeli coalition.

After launching Saturday's attack, they confirmed their intention to continue missile strikes until the aggression against all resistance fronts ceases, referencing Israel's escalation of operations against Hezbollah.

US and Israeli strikes against Iran have persisted even as US President Donald Trump has suggested postponing a direct attack on Iran's nuclear facilities.

As approximately 20% of the world's oil and liquefied natural gas passes through the critical Strait of Hormuz, the potential closure of this crucial waterway leads to soaring oil prices and economic uncertainty worldwide.

In previous instances, the Houthis launched approximately 200 attacks on ships in the Red Sea, prompting major shipping companies to seek alternative routes. This escalation could have far-reaching impacts on global trade and regional stability.

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