By: Reuters

A body affiliated with Yemen's Houthi militia has stated it will impose sanctions on U.S. oil majors ExxonMobil and Chevron. The Sanaa-based Humanitarian Operations Coordination Center (HOCC) announced sanctions against 13 U.S. companies, nine executives, and two vessels.

The Houthis stated the sanctions are in retaliation for U.S. sanctions imposed on them this year. They claim this violates a truce agreement with the Trump administration, under which the group had agreed to stop attacking U.S.-linked ships in the Red Sea and Gulf of Aden. Exxon declined to comment, and Chevron did not immediately respond.

According to independent Middle East analyst Mohammed Albasha, it remains unclear if these sanctions signal that the Houthis will begin targeting vessels linked to the sanctioned entities, a move that would risk violating the ceasefire agreement.

The Houthis have conducted numerous assaults on shipping since 2023, primarily targeting vessels they deem linked to Israel in solidarity with Palestinians. This campaign has had little effect on vital oil tanker traffic through the Strait of Hormuz. The group has, however, occasionally attacked ships in the Gulf of Aden, and on Monday claimed responsibility for an attack on a Dutch cargo ship that injured two crew members.

Analyst Albasha assessed that the move is unlikely to affect the oil market, as most regional trade is handled by Chinese, Russian, Iranian, and other Gulf companies with which the Houthis want to maintain good relations. He suggested the sanctions appear to be a "media stunt" to save face in light of mounting U.S. sanctions and Israeli strikes affecting their economy. The HOCC statement concluded that the ultimate goal of the sanctions is "not punishment in itself, but to bring about positive behavioral change."