Overview

• Houthi rebels, backed by Iran, have launched numerous attacks on commercial vessels in the Red Sea, disrupting global trade routes.
• The United States and United Kingdom have conducted airstrikes against Houthi positions in response to the attacks.
• The European Union is planning a military mission, Operation Aspides, to protect cargo ships from Houthi attacks.
• Insurance rates for voyages through the Red Sea have surged due to the increased risk of Houthi attacks.
• The conflict has led to a significant increase in shipping costs and delays, affecting global supply chains and consumer prices.