Geopolitical analyst Pepe Escobar says Trump has blown up the MOU, and by trying to take control of Hormuz, he may end up choking global trade in two of the world's most important shipping lanes.
Iran is squeezing Hormuz, and now the Houthis are threatening Bab el-Mandeb.
For weeks, mediators from Pakistan, Oman, and Qatar had been desperately trying to hold the MOU together.
Even Saudi was pushing Washington to make it work because the Gulf states knew exactly what another war would mean for them.
Then Trump reinstated the blockade, and Pepe thinks he just detonated the entire agreement.
But the part that makes this far more dangerous is what happened next.
An Iranian aircraft carrying a Yemeni delegation home from Iran attempted to land at Sana'a, the runway was bombed, and the pilots diverted at the last minute and managed to land at Hodeidah instead.
Pepe says that single incident may have handed the Houthis exactly the pretext they needed to re-enter the conflict.
And while he was literally explaining that possibility during the interview, reports began emerging of Houthi ballistic missiles being fired at Saudi.
That's when he said Bab el-Mandeb could "enter the chat."
Think about what that means.
Two of the world's most important maritime chokepoints suddenly become part of the same regional confrontation, and Saudi is sitting directly between them.
Pepe calls it the "red triangle."
His argument is that Trump believes he's squeezing Iran, but by blowing up the MOU and pushing Tehran back toward full-scale confrontation, he may be helping reactivate the wider Axis of Resistance instead.
And if Hormuz and Bab el-Mandeb are both dragged into the conflict, this stops being another Middle Eastern war that markets can watch from a safe distance.
Oil routes are threatened, shipping costs explode, supply chains get hit, and the pressure spreads directly into the global economy.
Trump thinks controlling Hormuz will give America leverage over Iran.
Pepe thinks he may have just created a second front at the other end of the Middle East.
@RealPepeEscobar
