Yemeni Houthi rebels have seized control of a cargo ship reportedly owned by an Israeli shipping tycoon and have taken its 25 crew members hostage, according to the Associated Press. The ship was moving through the Red Sea before bring overrun by the rebel group, which is backed by Iran. “All ships belonging to the Israeli enemy or that deal with it will become legitimate targets,” the Houthis said, according to the Associated Press. The Israeli Defense Forces said the seizure was a “very grave incident of global consequence,” though Israel said the ship was actually British-owned and Japanese-operated. Records viewed by the AP, however, link the ship to Israeli businessman Abraham “Rami” Ungar’s company.