The Houthis raised the stakes in the Middle East conflict on Saturday with a threat to cripple the global economy by blocking a second vital oil shipping route. In a significant escalation to the month-long war, Iran's proxy group in Yemen issued its warning after launching a missile attack on 'sensitive' Israeli military sites.
Risking a further surge in oil and gas prices, the group's military leaders said they are considering closing a Red Sea oil route used as an alternative to the Strait of Hormuz, which Iran has effectively shut down. Known as the 'Gate of Tears' in Arabic, the Bab al-Mandeb Strait is an 18-mile-wide waterway connecting the Red Sea with the Gulf of Aden. Crucially, it controls sea traffic toward the Suez Canal.
If both routes are compromised, the impact would extend far beyond the region, hitting supply chains, energy markets and shipping costs worldwide. Ten per cent of global seaborne trade passes through the Red Sea, including a fifth of the world's container traffic and car shipments and 10 per cent of crude oil. Mohamad Elmasry, a professor at the Doha Institute for Graduate Studies, described the Houthis entering the US-Israeli war on Iran as 'very significant'.
An armed political and religious group, they declare themselves to be part of the Iranian-led 'axis of resistance' against Israel, the US and the wiKnown as the 'Gate of Tears' in Arabic, the Bab al-Mandeb Strait is an 18-mile-wide waterway connecting the Red Sea with the Gulf of Aden. Crucially, it controls sea traffic toward the Suez Canal.
If both routes are compromised, the impact would extend far beyond the region, hitting supply chains, energy markets and shipping costs worldwide. Ten per cent of global seaborne trade passes through the Red Sea, including a fifth of the world's container traffic and car shipments and 10 per cent of crude oil. Mohamad Elmasry, a professor at the Doha Institute for Graduate Studies, described the Houthis entering the US-Israeli war on Iran as 'very significant'.
An armed political and religious group, they declare themselves to be part of the Iranian-led 'axis of resistance' against Israel, the US and the wider West – along with armed groups such as Hamas and Lebanon's Hezbollah movement.Mr Elmasry said: 'We have seen over the past two and a half years that the Houthis have significant power. If they decided to move to shut down the Bab al-Mandeb Strait, the Red Sea and, ultimately, the Suez Canal, we would have two major choke points [closed] along with the Strait of Hormuz.' As the conflict entered its fifth week:
- Around 24 American troops were injured in an Iranian strike on a military base in Saudi Arabia
- Hundreds of thousands of families are planning UK staycations instead of jetting abroad due to the crisis
- A foiled bomb attack on the Bank of America's Paris headquarters yesterday was linked to the Iranian proxy group which also claimed responsibility for the arson attack on Jewish charity ambulances in North London last week
- A former oil company executive said that ministers should consider enforcing driving restrictions in Britain amid an impending fuel supply crisis
- Donald Trump is said to have privately floated renaming the Strait of Hormuz the 'Strait of America' or even after himself.
- A Israeli missile strike killed three journalists in Lebanon. FULL ARTICLE AT: https://mol.im/a/15688223 via https://dailym.ai/android
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