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Potential Houthi threat to Red Sea shipping could further damage global economy
The Houthis held their fire for the first four weeks of the war, despite their affiliation with and backing from Iran.
Now, the movement that still holds the Yemeni capital, Sanaa, and the north and other areas of the country, has made its first move, firing missiles towards Israel.
It is true that the threat the Houthis pose to Israel through its missile fire is far less than that of Iran.
The group fired towards Israel many times in support of Hamas after war erupted in Gaza, following the Hamas-led attacks on Israel on 7 October 2023.
But those attacks – which had come to an end many months ago – did little real damage to Israel.
Why all eyes are on the ‘Strait of Tears’ as Houthis enter war
One thing that’s helped to limit the damage in oil markets since the Iran war largely shuttered the Strait of Hormuz is the availability of an alternative route for getting crude from Saudi Arabia to Asia: the Red Sea.
The Houthis, an Iran-backed militant group that controls much of Yemen, throttled much of the traffic through that crucial waterway for two years starting in late 2023. In response to Israel’s war in Gaza, they launched attacks on commercial and naval ships near the Bab el-Mandeb strait that connects the southern Red Sea to the Gulf of Aden, causing what was then the biggest disruption to global trade since the Covid-19 pandemic.
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