Docking US Navy Ships in Berbera, Somaliland, Would Check Houthis' Red Sea Prey
The Houthis, Yemen’s Iran-backed tribal group that seized power in a 2015 insurgency, increasingly preys on Red Sea shipping in and around the Bab el-Mandeb, the maritime chokepoint through which approximately nine percent of the world’s sea-borne petroleum passes. Already, BP and other energy companies are directing shipping away from the Red Sea. Insurance has increased. Oil prices are interlinked, so taking the Red Sea offline impacts global industry and the economy. Some countries will suffer greater impacts, however. Egypt derived $9.4 billion in Suez Canal revenue in fiscal year 2022–23. Continue reading “Docking US Navy Ships in Berbera, Somaliland, Would Check Houthis’ Red Sea Prey”→
