US And UK's Response To The Houthi Attacks

Dunavant

Contributor

The US and UK launched around 70 airstrikes on Houthi targets in Yemen to counter shipping attacks in the Red Sea.
United States Transport
To print this article, all you need is to be registered or login on Mondaq.com.

The US and UK launched around 70 airstrikes on Houthi targets in Yemen to counter shipping attacks in the Red Sea. The Iran-backed Houthi group has pledged to retaliate, expanding their campaign against commercial vessels, with US and UK interests now considered legitimate targets. This military action has led to a rise in oil prices by more than 4%, reaching above $80 a barrel. The conflict, stemming from the Israel-Hamas war, has disrupted global supply chains, raising freight costs.

Despite the escalating situation, the impact on the global economy is expected to be limited, according to Ziad Daoud, chief emerging markets economist at Bloomberg Economics. The strikes targeted airports, radar installations, and storage sites, aiming to degrade the Houthis' ability to attack shipping. The international community, including the Netherlands, Australia, Canada, and Bahrain, supported the mission.

Companies have rerouted ships away from the Red Sea, affecting supply chains. Volvo Car AB suspended production in Belgium due to disruptions, and Tesla Inc. noted the impact on its European factory. The conflict may not end here, and the US and UK are likely to press regional allies to help restrain the Houthis. Saudi Arabia expressed concern about the strikes, indicating unease among some of the US's regional allies.

Source: Reuters | US and Britain strike Yemen in reprisal for Houthi attacks on shipping

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

See More Popular Content From

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More