Houthis Tighten Grip on Red Sea, Raising Fears Over Global Trade Disruptions

Saudi Arabia and Egypt have expressed concerns over the safety of navigation in the Red Sea following a recent escalation by Yemen's Houthis.

The Houthi rebels have been battling Saudi-backed government forces since July, and their control of the southern entrance to the Red Sea has raised fears about global trade disruptions.

According to reports, the Houthis have seized control of Yemen's coastline along the Red Sea, including the Bab el-Mandeb Strait, which is a crucial waterway for oil exports. The conflict has already had an impact on shipping companies, with Suez Canal revenues currently at half their level before Houthi attacks began in 2023.

Qatar has warned that a closure of the Bab el-Mandeb would have severe consequences, describing it as 'catastrophic for the entire world'. Saudi Crown Prince Mohammed bin Salman met with Egyptian President Abdel Fattah al-Sisi to discuss the escalating situation and called for ensuring freedom and security of maritime navigation.

The strategic waterway is crucial for international shipping companies, and any further disruption could make the route less attractive. The conflict has also put pressure on Egypt, as the Red Sea provides the main approach to the Suez Canal, a major source of revenue for Cairo.