A Narrow Strait, a Major Crisis; Why the Bab el-Mandeb Strait Is of Vital Importance?

🔸Shia Houthi forces in Yemen, backed by the Islamic Republic of Iran, have recently threatened to close the Bab el-Mandeb Strait, attacked two oil tankers carrying Saudi Arabian oil, and caused the rerouting of several other ships.

🔸On the one hand, these actions have led to Brent crude rising to $100 per barrel, and on the other, international shipping in this part of the world has been faced with an unprecedented challenge.

🔸In recent weeks, reports had been published about Tehran’s request to the Houthis to close this strait, and following that, this Yemeni Shia group began its attacks on commercial vessels.

🔸The insurance prices for ships intending to transit through the Bab el-Mandeb Strait have increased sharply in the past one or two days, and in particular, Saudi tankers and vessels that are owned or operated by Western countries are forced to pay between 1% and 3% of the value of their cargo as an insurance cost.

🔸For large ships with full cargo, this cost sometimes reaches as much as $20 million for each crossing of the Bab el-Mandeb Strait.

🔸Read the full report on the Radio Farda website.