On January 26 at 11:00 Moscow Time (GMT+3) the Valdai Club will host an expert discussion on the escalation in Yemen and the Red Sea.
In response to shelling of ships in the Red Sea, the US and UK continue to strike Houthi targets. The Yemen crisis has affected commercial shipping along one of the world’s most important transport routes. The Suez Canal carries 12% of world trade and 30% of container traffic through the Red Sea. Every year companies move $1 trillion worth of goods through the Bab el-Mandeb Strait. Destabilisation in the key transport corridor resulted in rising energy prices, port insurance premiums and, consequently, an increase in the cost of goods.