Free Trial

US Responds To Attacks From Iranian-Backed Militants

POLITICAL RISK

The US continued its strikes against positions of Iranian-backed insurgents in response to a drone attack which killed 3 US troops and assaults on Red Sea shipping. President Biden has said that there could be further US strikes if deemed “appropriate” and wouldn’t rule out strikes on Iranian territory. Iran has denied involvement and warned the US.

  • In Biden’s letter to Congress, he said that facilities in Iraq and Syria used by Iran’s Islamic Revolutionary Guard Corps and the associated militants were targeted. The aim was to deter them from attacking US troops but the Iraqi and Omani governments have voiced concern that the US is risking stability in the region.
  • The Iranian-supported Islamic Resistance in Iraq has claimed responsibility for the drone attack on the US base and the US has said the drone was Iranian made, but Iran denied any connection.
  • The West’s response continued on Saturday with the US and UK striking Houthi positions in 13 places in Yemen, as they try to weaken the Iran-backed group to stop its attacks on Red Sea shipping. But the Houthis have said that they will continue to attack as the US strikes “will not deter” them from their “moral, religious, and humanitarian stance in support of the resilient Palestinian people in the Gaza Strip.
  • French shipping company CMA CGM, the third largest container shipper globally, has decided to reroute its vessels away from the Bab al-Mandab Strait after one of its ships was targeted last week by Houthis. It had continued to use the Suez Canal with French naval escorts but has decided that the area is now too risky. The Chairman of the canal said that revenue had almost halved in January and flows have fallen 36%.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.