Saudi Arabia postponed its investment conference after Houthi attacks this month

The US and Israel began strikes on Iran in late February 2026. A June memorandum lifted the US naval blockade and Iran's closure of the strait and opened a 60-day negotiating window. That window collapsed on 8 July, after which US strikes resumed nightly and the fight narrowed to control of Hormuz. Iran-backed Houthi forces in Yemen launched multiple attacks on Saudi targets earlier this month.

Saudi Arabia has postponed its annual Future Investment Initiative conference, known as Davos in the Desert, until 2027. The FII Institute organizers made the decision after those Houthi attacks.