The role that the Houthis are playing in the Red Sea is that of attack and assault ships linked to Israel, and even turn them into a tourist attraction. It is, as explained by Óscar Vara, professor of Economic Theory at the Autonomous University of Madrid, “an anti-imperialist movementopposed to Israel which, within its military possibilities, which are very broad, tries to intervene in the conflict that is happening right now in Palestine.
He Yemeni group controls the Bab el-Mandeb Straitthe link between the Indian Ocean and the Red Sea, which represents a key point in world trade. In this sense, Mar Gámez, expert lawyer in International Trade Law and CEO of RRYP, explains that “this strait is of crucial importance”, since “it is located in a geopolitical zone in which the main powers are located, be they China, United States or even Japan.” “If we continue with these attacks, many will think twice, and oil traffic can be stopped“warns the expert.
They circulate there nine million barrels of oil daily on its way to Europe, and moves 30% of international container traffic. Óscar Vara points out in this regard that “the 12% of World GDP“. “The trip is approximately 30 days by sea. If maritime traffic had to be diverted via the Cape of Good Hope, we would have to add an extra month, therefore, costs would double“, alert.
“About what depends this happen?” asks Mar Gámez, for his part, who responds that “that the conflict continues to escalate“. “On the one hand, the Palestinian-Israeli conflict and, on the other, the response of the United States and Saudi Arabia to the Houthis, the lawyer emphasizes.
He The result would be a rise in oil prices.with two clear favored ones: “Iran clearly has direct interests on that issue, and we know that he is behind Hamas, that he is behind Hezbollah and he is also behind the Houthis; On the other hand, if south-north traffic is interrupted, but not north-south traffic, Russians also benefitbecause from 2022, one of the Russians’ preferred export routes to Asia passes through there,” explains Óscar Vara.
If this finally happened, the price of crude oil could skyrocketAccording to estimates, between 50 and 70 dollars more per barrel.
Source: Lasexta
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