In the corridors of a US embassy in Oman, American officials and Houthi leaders reached a quiet understanding — one that would leave Saudi Arabia to face its adversaries largely alone. The Trump administration, already entangled in conflict with Iran, chose a narrow exemption over a broader commitment: American ships would pass freely through the Red Sea, while Saudi vessels would not. What looks like restraint from Washington is, in the longer arc of history, a realignment of alliances in one of the world's most consequential waterways — where the interests of great powers now converge with t