IMF: Trade in the Suez Canal declines by 50%. About 12% of global trade is carried out through it.
It is the shortest shipping route between Europe and Asia, and is considered one of the main sources of hard currency for Egypt. The Houthis target, with missiles and drones, Israeli cargo ships or those linked to them in the Red Sea. They say that this comes in solidarity with the Gaza Strip, which is facing a devastating Israeli war with U.S. support.