08-01-24, 09:50
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re: Royal Navy Ship BLASTS Houthi Drones-UK & US Hint at More Serious Military Action
What Are The Consequences of Houthi Rebel Pirate Attacks in The Red Sea?
UK Ministers vow Houthi rebels will 'Bear The Consequences' of attacks on ships in the Red Sea in joint statement with leaders from 11 other countries
Comes as Experts WARN Terror Attacks Threaten to Create Shortages Across Globe
MailOnline 8 JAN 2024
The UK Government has signed a joint statement alongside leaders from New Zealand, Australia, Bahrain, Belgium, Canada, Denmark, Germany, Italy, Japan, the Netherlands and the United States calling for an end to the hostilities.
Since November, the Iranian-backed terror group has launched numerous attacks on shipping travelling towards the Suez Canal, causing widespread disruption in the major trade route.
The statement warns: 'We call for the immediate end of these illegal attacks... The Houthis will bear the responsibility of the consequences should they continue to threaten lives, the global economy, and free flow of commerce in the region's critical waterways.'
It comes as experts warn the terror attacks threaten to create shortages across the globe, drive up prices and even derail hopes of slashing interest rates.
Maersk and Hapag-Lloyd, the world's biggest shipping companies, have stopped using the vital trading route, which gives access to the Suez Canal.
Instead, ships transporting goods from China are diverting around the Cape of Good Hope on the southern tip of Africa.
The journey, about 3,500 nautical miles longer, adds an average of nine days and around £800,000 to the cost of a shipment.
Some small UK traders report they have been quoted increases of as much as 250 per cent in shipping costs from China.
Victoria Scholar, of the online investment service Interactive Investor, warned: 'There are concerns the increased shipping costs could be passed on to consumers in terms of higher prices, fuelling a rebound in inflation of goods on shelves as well as supply chain disruptions, shortages and product delays.'
Meanwhile, reports suggest ministers are considering joint air strikes with US naval forces to ward off the rebels.
But a Houthi spokesman vowed yesterday to continue the attacks despite retaliation threats, saying: 'No US attack will pass without a response or punishment.'
A Houthi fighter stands on the Galaxy Leader cargo ship in the Red Sea
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