The Houthi blockade of the Red Sea has escalated into a direct military confrontation, with Saudi Arabia striking the port city of Hodeidah in retaliation for Houthi missile attacks on Saudi oil tankers. The clash marks a dangerous new front in the Iran war, threatening the Bab el-Mandeb strait — a critical chokepoint for 12% of global trade.
Watch List
Red Sea shipping threat: Insurance giant Gallagher advises clients to avoid Red Sea voyages...
