The invasion of the Emirati-backed forces against the Houthi rebels along the Red Sea in Yemen has drastically increased the risk of disruption to the world’s supply chains. That’s because the Red Sea is a major transport route for ships carrying goods around the world.
The Red Sea is well known for its key maritime route, the Suez Canal, which connects the Mediterranean Sea to the Indian Ocean. Trade of goods exceeding 10 percent of the world’s commerce goes through this waterway every year. Goods from Europe, Asia and Africa pass by on this route.
Now, due to the ongoing conflict in Yemen, both sides have started threatening to attack international ships that cross the Red Sea. Houthi forces have used tactics like mining and rocket fire to target Emirati and coalition ships in the region which could have catastrophic consequences on commercial shipping.
The Houthi’s have also threatened to attack oil tankers and posed a major threat to the flow of oil and trade goods from the region. This could have an immense negative impact on global markets, as the Red Sea is a strategic oil route to Europe, India, and East Africa.
The situation has also been worsened by the unreliable security situation around the Red Sea basin, as pirate attacks have been on the rise in recent years in the Gulf of Aden and the waters off the eastern coast of Africa. There have also been reports of escalating tensions between Saudi Arabia & its allies and Iran in the region.
This has undoubtedly posed a major risk to the security and reliability of the global supply chain. Any disruption to the Red Sea trade routes could have far-reaching consequences on global commerce and trade, as a significant number of ships move through the Suez Canal to deliver goods to global consumers.
It’s important for international powers to come together to de-escalate the situation in Yemen and restore stability to the entire region. In the meantime, countries should take steps to mitigate any potential disruption to their supply chains by rerouting their ships and cargo from the region.
It is up to the international community to find a solution and restore the security of the global supply chain in the region. Otherwise, the potential hazards posed by the Houthi forces in the Red Sea could have serious repercussions on the global economy.
