Iran prepares to block access to the Red Sea to increase pressure on the West
Iran is considering using the Yemeni Houthis to block the Bab el-Mandeb Strait, one of the world’s most important trade routes linking the Red Sea with the Suez Canal.
According to Reuters, Tehran aims to expand its confrontation with the United States and force Western countries to face even greater economic consequences than those associated with threats to the Strait of Hormuz.
Analysts believe that if both major crude oil shipping corridors—the Strait of Hormuz and the Bab el-Mandeb Strait—were closed simultaneously, crude oil prices could surge to more than $200 per barrel.
The Yemeni Houthis already disrupted global trade in 2023 by attacking commercial vessels in the Red Sea following the outbreak of the war in Gaza. Iran could use the same strategy either as a tool of pressure or as leverage in negotiations with Washington.
Read also
Barley prices in Ukraine have stopped falling and have a chance to grow
Fuel, Logistics and Grain: New Challenges for Russian Exports
Asian feed mills prepare to use more corn after Black Sea tensions escalate
Brazil set for a third consecutive record soybean harvest
Kernel reports significant sunflower oil losses after attack on terminal in Odesa ...
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon