Following the ceasefire agreement between Israel and Hamas, the Yemeni Houthis signaled that they were going to stop attacking ships in the Red Sea.
This was stated by Houthi leader Abdulmalik Al Houthi, Bloomberg reports.
Yemenʼs Houthis will abide by the agreement, but may resume attacks on ships if "Israel launches a breakthrough, bombardment or siege". Therefore, shipping companies will be cautious about returning to the Red Sea.
Following the Israel-Hamas deal, shipowners and insurers waited for the Houthis to signal their intention to end their months-long attacks in the southern Red Sea and Gulf of Aden, which have sunk some ships, damaged dozens and forced most vessels to avoid the vital trade route.
The Iranian-backed Yemeni Houthi Islamist group began attacking ships in late 2023 in solidarity with the Palestinians during Israelʼs war with Hamas.
As a result, most Western container ships bypassed the Red Sea and took a much longer route around South Africa on voyages between Asia and Europe throughout 2024. This led to increased delivery times, higher prices and tariffs.
Gaza ceasefire agreement
On the evening of January 15, Israel and Hamas reached an agreement on a ceasefire in Gaza and the release of hostages. This was confirmed by the US President-elect Donald Trump.
If successful, the deal would end the fighting in the Gaza Strip and allow Israel to return its citizens held captive by Hamas. At the same time, Israel would release Palestinian prisoners. It could also ease tensions in the Middle East, where conflicts continue in the West Bank, Lebanon, Syria, Yemen and Iraq.
In the first phase, IDF will withdraw to within 700 meters of the Gaza Strip, Israel will release approximately 2 000 Palestinians and Hamas will release 33 Israeli prisoners. Israel will allow the wounded in Gaza to move through the territory to receive medical care and will open the Rafah crossing with Egypt. IDF troops will begin to withdraw from the Philadelphia Corridor.
Israel later said that Hamas militants were creating a "last-minute crisis" and that ministers would not approve the deal until they received confirmation that the group was not "violating the agreements".
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