News
Latest News
news bulletin
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Other News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Beirut
21
o
Mount Lebanon
21
o
Metn
21
o
Keserwan
21
o
North
22
o
South
21
o
Bekaa
15
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Vision 2030
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
21
o
Mount Lebanon
21
o
Metn
21
o
Keserwan
21
o
North
22
o
South
21
o
Bekaa
15
o
News
Programs
The News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Programs
Documentaries
Lebanon’s Centennial
News Bulletin
The Untold History
Talk Show
Series
Sports
Variety
Other
Comedy
Oldies
Breaking News
Latest News
Highlighted News
Most Read
Videos
العربية
Watch the latest programs and the latest developments on your favorite screen
Shows
Join millions of followers
Who We Are
Contact Us
Advertise With Us
Careers
Channel frequencies
Privacy Policy
Terms and Conditions
Red Sea Crisis: Economic and Geopolitical Implications Beyond Gaza
News Bulletin Reports
2024-01-28 | 11:59
High views
Share
Share
3
min
Red Sea Crisis: Economic and Geopolitical Implications Beyond Gaza
The crisis in the Red Sea shipping nearly rivals the war in Gaza in terms of media coverage, international attention, and concern.
12% of global maritime trade passes through the Bab al-Mandab Strait, which connects the Indian Ocean to the Mediterranean via the Red Sea via the Suez Canal.
The crisis in Bab al-Mandab is political in nature, but its economic repercussions are compelling countries worldwide to reassess their priorities and evaluate the objectives of their alliances.
China, whose relationship with the United States is governed by rivalry, is the most prominent target alongside Israel for Houthi attacks. It asked its ally, Iran, which supports the Houthis, to help stop their attacks on ships in the Red Sea, considering that if its interests are harmed in any way, this will affect... Its relationship with Tehran, according to Reuters.
According to Statica, the value of Chinese exports to Europe reached 626 billion euros in 2022, exports that are now affected by Houthi targeting. The decline in maritime trade in Bab al-Mandab is also reflected in the Suez Canal. According to the German DW website, the canal brought in $9.4 billion to Egypt in transit fees for the fiscal year from June 2022 to June 2023, a figure expected to decrease to $5.6 billion, a 40% decrease.
The targeting of the Red Sea has not been limited to Asian and regional countries, as European ships are also in trouble. The latest developments include the announcement by the Danish shipping group Maersk, one of Europe's largest shipping companies, that it will sail around the Cape of Good Hope for its shipping route connecting India and the US East Coast.
According to The Telegraph, circumventing South Africa adds 10 to 14 days to the delivery time of goods, leading to a 170% increase in shipping costs between Europe and Asia.
According to several Western media outlets, including Deutsche Welle, these developments have led many European countries to reconsider their reliance on Chinese exports and compensate by establishing European factories to meet their needs.
Thus, Europe is economically stifled, as shipping goods from China has become more costly, and Egypt is losing billions of dollars.
As for Israel, it is trying to compensate for the subsequent damage to its imports through a land corridor to transport goods from the Arabian Sea to the Israeli interior, according to the US magazine Foreign Policy.
Thus, the United States appears to be the least affected by what is happening in the Red Sea, and its exports to Europe via the Atlantic Ocean have not been affected.
In 2022, US trade in goods and services with the European Union was estimated at around $1.3 trillion, according to the US Trade Representative's Office.
News Bulletin Reports
Red Sea
Yemen
Houthis
Gaza
Next
Targeting Homes in Southern Confrontation Diaries
Swift retaliation: Houthi strike targets British oil tanker, prompting response from US and UK forces
Previous
Related Articles
d-none hideMe
0
World News
2024-04-27
Yemen's Houthis confirm targeting Andromeda Star oil ship in Red Sea
World News
2024-04-27
Yemen's Houthis confirm targeting Andromeda Star oil ship in Red Sea
0
Middle East News
2024-02-20
Yemen's Houthis say they targeted Israeli and US ships in Red Sea with missiles
Middle East News
2024-02-20
Yemen's Houthis say they targeted Israeli and US ships in Red Sea with missiles
0
Middle East News
2024-04-13
Houthis launch drones from Yemen towards Israel after Iranian attack
Middle East News
2024-04-13
Houthis launch drones from Yemen towards Israel after Iranian attack
0
World News
2024-04-10
Yemen's Houthis hit four vessels in Gulf of Aden - spokesman
World News
2024-04-10
Yemen's Houthis hit four vessels in Gulf of Aden - spokesman
Recommended For You
d-none hideMe
0
News Bulletin Reports
12:28
Lebanon faces the imminent risk of being placed on the FATF grey list by late May
News Bulletin Reports
12:28
Lebanon faces the imminent risk of being placed on the FATF grey list by late May
0
News Bulletin Reports
12:25
Global student protests: Will mounting pressures contribute to halting the Israeli war on Gaza?
News Bulletin Reports
12:25
Global student protests: Will mounting pressures contribute to halting the Israeli war on Gaza?
0
News Bulletin Reports
12:21
Israeli negotiators brace for tough talks: Gantz threatens coalition split over Hamas captive-exchange deal
News Bulletin Reports
12:21
Israeli negotiators brace for tough talks: Gantz threatens coalition split over Hamas captive-exchange deal
0
News Bulletin Reports
12:20
Brink of a breakthrough: Riyadh emerges as global focal point for Gaza ceasefire negotiations
News Bulletin Reports
12:20
Brink of a breakthrough: Riyadh emerges as global focal point for Gaza ceasefire negotiations
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
Lebanon News
2023-08-31
Lebanon's path to stability: US Advisor Hochstein engages with Minister Bou Habib on UNIFIL, economic revival
Lebanon News
2023-08-31
Lebanon's path to stability: US Advisor Hochstein engages with Minister Bou Habib on UNIFIL, economic revival
0
Middle East News
2024-04-17
Iranian military: We are ready to deal with any Israeli attack
Middle East News
2024-04-17
Iranian military: We are ready to deal with any Israeli attack
0
World News
2024-04-16
Portugal urges Iranian ambassador to release container ship MSC Aries
World News
2024-04-16
Portugal urges Iranian ambassador to release container ship MSC Aries
0
Middle East News
2024-04-17
Iranian commander: Navy escorting commercial ships to Red Sea
Middle East News
2024-04-17
Iranian commander: Navy escorting commercial ships to Red Sea
Videos
d-none hideMe
0
Lebanon News
2023-12-11
Breaking: Israel launches raid north of Litani on Monday (Video)
Lebanon News
2023-12-11
Breaking: Israel launches raid north of Litani on Monday (Video)
0
Lebanon News
2023-11-02
Exclusive to LBCI: U.S. State Department's Wooster Stresses Lebanon Must Avoid War, Sees Renewed Push for Two-State Solution
Lebanon News
2023-11-02
Exclusive to LBCI: U.S. State Department's Wooster Stresses Lebanon Must Avoid War, Sees Renewed Push for Two-State Solution
0
Lebanon News
2023-10-18
Protests Erupt near US Embassy in Awkar Against Israeli Attacks on Al-Maamadani Hospital in Gaza
Lebanon News
2023-10-18
Protests Erupt near US Embassy in Awkar Against Israeli Attacks on Al-Maamadani Hospital in Gaza
0
Lebanon News
2023-10-05
ATFL's Ambassador Edward Gabriel on Navigating Through Economic, Political, and Refugee Crises
Lebanon News
2023-10-05
ATFL's Ambassador Edward Gabriel on Navigating Through Economic, Political, and Refugee Crises
0
Sports News
2023-08-31
Amir Saoud Powers Lebanon to Victory Over Cote d'Ivoire: A Deep Dive Into The Numbers
Sports News
2023-08-31
Amir Saoud Powers Lebanon to Victory Over Cote d'Ivoire: A Deep Dive Into The Numbers
0
Sports News
2023-08-29
France Edges Past Lebanon in a Nail-Biter at FIBA World Cup 2023: A Statistical Deep Dive
Sports News
2023-08-29
France Edges Past Lebanon in a Nail-Biter at FIBA World Cup 2023: A Statistical Deep Dive
0
Lebanon News
2019-02-28
Pierre el-Daher, the man who defeated the Lebanese Forces
Lebanon News
2019-02-28
Pierre el-Daher, the man who defeated the Lebanese Forces
Most read
d-none hideMe
24 hours
7 days
Month
1
News Bulletin Reports
12:28
Lebanon faces the imminent risk of being placed on the FATF grey list by late May
News Bulletin Reports
12:28
Lebanon faces the imminent risk of being placed on the FATF grey list by late May
2
Variety and Tech
05:15
Lebanese director Nadine Labaki to join Cannes Film Festival 2024 jury
Variety and Tech
05:15
Lebanese director Nadine Labaki to join Cannes Film Festival 2024 jury
3
Lebanon News
05:55
Fadlallah: Any external initiative aiming to relieve the enemy is doomed to fail
Lebanon News
05:55
Fadlallah: Any external initiative aiming to relieve the enemy is doomed to fail
4
Israel-Gaza War Updates
00:53
Hamas official to AFP: 'No major issues' in movement's comments on ceasefire proposal
Israel-Gaza War Updates
00:53
Hamas official to AFP: 'No major issues' in movement's comments on ceasefire proposal
5
Lebanon News
03:53
Bilal Abdallah to LBCI: No significant Western action to curb Israeli aggression in south Lebanon
Lebanon News
03:53
Bilal Abdallah to LBCI: No significant Western action to curb Israeli aggression in south Lebanon
6
Lebanon News
05:44
Jordan and France coordinate efforts for Gaza and Lebanon peace
Lebanon News
05:44
Jordan and France coordinate efforts for Gaza and Lebanon peace
7
Middle East News
07:10
Saudi FM: Bilateral agreements with US 'in the near future'
Middle East News
07:10
Saudi FM: Bilateral agreements with US 'in the near future'
8
Israel-Gaza War Updates
09:44
British Foreign Minister: Proposal submitted to Hamas includes ceasefire in Gaza for 40 days
Israel-Gaza War Updates
09:44
British Foreign Minister: Proposal submitted to Hamas includes ceasefire in Gaza for 40 days
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
We use
cookies
We use
cookies
to make
your experience on this
website better.
Accept
Learn More