Following the blockade of the Strait of Hormuz by the Iranians, the world’s attention is now increasingly turning towards the Bab el-Mandeb Strait, which risks becoming a new hotspot of the Middle East war. This strait separates Yemen, from the Arabian Peninsula, from Djibouti and Eritrea, from the Horn of Africa and is the gateway to the Red Sea and the Suez Canal. A Yemeni military leader recently warned that blocking this strategic route could be one of the action options of the Houthi rebels, Iran’s allies in the region.
The closure of the Strait of Hormuz has already caused a rise in oil prices and disturbances in the financial markets now in a period of systemic risk similar or even more severe than the 2008 crisis.
The situation could worsen even more, if the passage through the Bab el-Mandeb Strait is blocked by the Houthi rebels, supported by Iran and who currently control the Yemeni coast of the strait, reports Radio Free Europe Moldova (RFEM).
Approximately 6% of global oil maritime transports pass through this strait, according to the US Energy Information Administration. Goods circulating between Asia, Europe, and the Middle East pass through this route to the Suez Canal – the fastest access route between Asia and Europe.
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