Red Sea WAR ZONE: Houthi Attacks Pose Threat to Global Economy

The flames of the Israel-Hamas war have now spread to the sea. Red Sea and Arabia Sea are turned into war zones.
Red Sea WAR ZONE: Houthi Attacks Pose Threat to Global Economy

The flames of the Israel-Hamas war have now spread to the sea. Red Sea and Arabia Sea are turned into war zones. Yemen’s Houthi rebels, who are backed by Hamas, have been targeting ships bound for Israel or linked to that country. In the wake of increasing attacks on ships, tensions are rising in the international community.

The war between Israel and Hamas began on October 7. Hamas entered Israel and killed hundreds of people and took more than 200 hostages. As a result of this, Israel has launched a fierce war on the Gaza Strip, targeting the rise of Hamas terrorists and massacring the Palestinian people. This war is still going on. Meanwhile, the Houthi rebels, who oppose Israel's attacks, are attacking the Israeli ships. They are targeting several ships passing through the Red Sea and the Arabian Sea with drones and missiles. Also they're robbing some ships. In the past month, Houthi rebels have attacked commercial vessels more than 12 times.

Houthi Rebels causing Red Sea Crisis:

On December 19, the Houthis attacked and seized the British-flagged cargo ship ‘Galaxy Leader’. They landed on te British cargo ship through the helicopter. In the middle of the sea, Houthis took the British crew into hostage. On December 3, two Israeli ships were attacked. On the 12th, a Norwegian tanker was attacked with a missile. No one was injured in the attack, though the truck caught fire. On the 13th, two missiles were targeted at Indian cargo ships in the Bab al-Mandeb Strait. Fortunately, the Indian Navy managed to evade the attack. Recently, on 22 of December, another ship was attacked in the Arabian Sea. The attack took place about 200 KM southwest of Veraval in Gujarat. A fire broke out after the explosion. However, the fire was doused in time. The incident took place when the ship was on its way to Mangalore from Saudi Arabia. Houthi rebels fired anti-ship ballistic missiles at international shipping lanes in the southern Red Sea in the last week.

Crude Oil Prices are likely to Rise:

Houthis have been targeting ships at Red Sea and Arabia Sea carrying crude oil and other essential goods. If these attacks continue, then not only the oil prices but also the prices of essential commodities are likely to rise in the coming days. There are also concerns in India that the attacks could hurt its business. Prime Minister Narendra Modi spoke to Israeli Prime Minister Benjamin Netanyahu about the Houthi attacks. Both of them shared mutual concern over safety on the sea route. These attacks need to stop in the interest of the global economy and business.

Red Sea is the Hub of International supply:

International trade by Red Sea has been severely affected by the Houthi attacks. Because the most of the business activities are take place on the Red Sea only. Not only West Asia, but also Arabia, Europe, Africa and India do business through the sea route. The effect is already visible. In the wake of the attacks, the world's largest cargo companies no longer want to send their cargo ships through the Red Sea. Companies are looking for alternatives. But it increases the distance. As a result, the cost also increases. It will have an impact on the economy, not today but tomorrow. At the end of the day, it is the consumer who has to bear the burden.

12% of the World Trade depends on the Red Sea:

Why do the Houthis choose the Red Sea for their attacks? Because, more than 12% of the world's trade was depends on the sea transportation. Commercial cargo ships passes through the sea. More than 10 billion dollars’ worth of goods are exported or exported every year through this route. This shows the importance of the Red Sea in the global economy. There is another reason why the Houthi rebels have chosen this path. They hope that the attacks will start an upheaval in the international community and that the world will increase pressure on Israel to end its war against Hamas.

As the transportation through the Red Sea is very important for the world trade, the United States has formed an alliance with 20 countries to protect ships from attacks in the sea. These countries cooperate with each other on the safety of ships. All activities are carried out on the basis of agreements between Member States.