Prime Minister Shehbaz Sharif strongly condemned Yemen's Houthi militia attacks targeting Saudi oil tankers in the Red Sea during a call with Saudi Crown Prince Mohammed bin Salman. Sharif described these actions as a threat to international law, maritime security, and regional stability, reaffirming Pakistan's firm support for Saudi Arabia. Both leaders agreed to maintain close coordination to ensure the continued flow of lawful maritime commerce through the Red Sea and Strait of Hormuz. Increased geopolitical tensions in key shipping routes could drive crude oil prices higher, potentially impacting global inflation and supporting gold, while also pressuring Pakistan's import bill and the USD/PKR rate.
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