Red Sea Attacks: Yemen's Houthi Rebels and Global Consequences

Houthi rebels in Yemen have escalated attacks on ships in the Red Sea, targeting vessels stopping at Israeli ports. The attacks have led some ships to take longer alternative routes to avoid the violence. The Houthi rebels emerged in the 1990s as a revivalist movement for the Zaydi branch of Islam, with grievances against government corruption and infringement on cultural rights. The conflict intensified in 2015 when the rebels aligned with former president Ali Abdullah Saleh against the internationally-backed government. The economic impact is significant, as over 80% of global trade is transported by sea, and the Red Sea is a crucial route for ships traveling from Asia to Europe. War risk premiums have increased, raising costs for shipping companies. The U.S. is working to build a coalition to protect global shipping in the region, but it may take time to implement.