Iran is apparently stopping its support for the Houthi in Yemen. This could pave the way for shipping to return to the Red Sea.
The US military has recently stepped up its attacks against the Iran-aligned Houthi in Yemen. As the British newspaper “The Telegraph” reports, the mullah state now apparently wants to withdraw its military personnel from Yemen in order to avoid a direct confrontation with the USA.
The Islamic Republic has been supporting the Houthi movement in Yemen financially and militarily for years. This concerns not only the civil war in the country against an alliance led by arch-enemy Saudi Arabia, but also the attacks on international shipping and in particular against Israel in the Red Sea.
US President Donald Trump recently threatened Iran that every shot fired by the Houthis would in future be regarded as an attack by Iran itself. Together with the Lebanese Hezbollah and the Palestinian Hamas, the militia is part of Iran’s so-called resistance front against its arch-enemy Israel.
An Iranian official told The Telegraph newspaper that the Houthi fighters’ days were numbered after the US airstrikes. It therefore no longer made sense to continue supporting them.
Shipping has been avoiding the Red Sea for around 15 months, instead taking the much longer and more expensive detour around the Cape of Good Hope. This has tied up a lot of tonnage and kept rates high. Experts say that a return to the Red Sea with the passage of the Suez Canal is likely to result in a significant drop in costs and rates for shipping.
