Yemen

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Shipping insurance rates soar on Red Sea missile attacks

Attacks by Yemen's Huthi rebels on commercial ships in the Red Sea have sent insurance premiums surging, exacerbating costs already stretched by soaring freight rates and longer alternative trade routes.

The Huthis have carried out relentless attacks since November on shipping transiting the Red Sea, a maritime hub through which 12 percent of global trade usually passes.

Houthis Ban Entry of American, British, and Israeli Ships from Red and Arabian Seas

In a significant move, the Houthi rebels in Yemen have declared a ban on American, British, and Israeli ships from entering the Red and Arabian Seas, as well as the Gulf of Aden. The ban extends to vessels owned or partially owned by Israeli citizens or companies, as well as those flying the Israeli flag.

US Destroys Surface-to-Air Missile Launcher in Yemen Amid Escalating Tensions

In response to escalating tensions in the Red Sea, the US Central Command has taken decisive action in Yemen, destroying a surface-to-air missile launcher in Houthi-controlled areas. The operation, which occurred around 5 pm on February 19, aimed to ensure the safety of commercial and coalition ships navigating the region.

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