The Suez Canal’s annual revenue fell by nearly a quarter in the last fiscal year as some carriers switched to alternative routes to avoid Houthi attacks in the Red Sea. Osama Rabie, president of the Suez Canal Authority, said the canal’s revenue had fallen to $7.2 billion. In the 2023-24 financial year from $9.4 billion in 2022-23, and the number of ships passing through the canal fell from 25,911 to 20,148.
Since November, the Houthis have been attacking commercial ships in the Red Sea and the Indian Ocean to show support for Hamas in its fight against Israel. Support that is destined to increase. In a recent video statement from Ansar Allah leader Abdul-Malik Badr al-Din al-Houthi:
“The field of confrontation against the Israeli and American enemy is the field in which the entire nation must contribute. The issue of Palestine is the greatest issue and tragedy in the world, and it is a great shame that it exists in an Islamic environment, most of which is weak. Our people have expressed their willingness to take any economic step in support of Gaza against Israel supported by the Saudi regime, ruler of Satan’s age and century.”
The Kingdom of Saudi Arabia has become a target of the Houthis for a few weeks. In Yemen, Riyadh blocked six banks that worked with Sanaa, effectively bringing the legal monetary system in Yemen to its knees. And this led to threats directed against KSA. “The Association of Banks holds the Central Bank of Aden responsible for any damages suffered by banks as a result of its decisions.” That is, apply what Riyadh asked for. In recent days, Houthi drones have flown over Saudi Arabia’s critical infrastructure with the intent of mapping the sites and then attacking them.
Western satellites reveal the intensification of reconnaissance and early warning flights in the skies of Saudi Arabia on July 17th. Accounts report: “an unprecedented flight of reconnaissance and early warning aircraft. This coincides with the anticipation of a possible Yemeni attack against strategic installations.”
“Air navigation tracking sites showed a huge amount of helicopters and reconnaissance and early warning aircraft flying densely in Saudi airspace. Flights focus on industrial cities and oil facilities on the Red Sea. American planes participate in the operation. This is the first time that the region’s skies have seen intense aerial overflights since the ceasefire in Yemen came into force years ago.”
The timing of the flight indicates a Saudi-American alert, which fears possible operations by Yemeni forces against Saudi depths. Interestingly, Yemeni forces managed during the years of the Saudi-led war to cause significant damage to the economic structure of the Kingdom, targeting its most important strategic oil fields and facilities. Concerns are now rising as Yemeni leaders reiterate the threat of bigger attacks than before and focus on the facilities of Aramco, the giant of the Saudi economy.
Al Houthi said again in his speech: “I advise the Saudi regime to listen to the warnings and songs of our people and stop its wrong path which is pro-America and Israel and hostile to God, Muslims and the right of faith. God willing, he will break the tyranny of American agents and destroy their capabilities at the hands of his faithful servants, in the victory of our Palestinian people and the oppression of our nation.”
Among the Yemeni threats: “We will continue to support and support Gaza in coordination with the rest of the support fronts and Ahrar al-Ummah, and our people will remain present in the squares and in various activities. Our operations will continue with missile bombing and naval operations , escalating more and more until the aggression ceases and the Israeli siege on Gaza is lifted.”
Yemeni sources report that: “The ships of the Eisenhower war group against Yemen launched 155 standard missiles (Standard Missile). The IKECSG warships launched 155 standard missiles and 135 short-range missiles from their vertical launch system via self-defense and pre-planned attacks.. IKECSG aircraft launched approximately 60 air-to-air missiles and launched 420 air-to-surface weapons.. And 135 short-range Tomahawk missiles under the heading of self-defense and pre-planned attacks The aircraft of the IKECSG launched approximately 60 air-to-air missiles and 420 air-to-surface missiles.”
Al Houthi comments: “The value of the Tomahawk missile is around two million dollars and the table shows that the number of Tomahawk missiles launched by the US Navy is 12 more than the total number purchased in the years 2022 and 2023. As for standard missiles, the cost of each is 4.3 million dollars (SM- 6) and 2.2 million dollars for (SM-2). The number of those launched exceeds that of 30 missiles purchased in 2023. As for air-to-air missiles, the value of missiles reaches 708 thousand dollars, while the value of air-to-surface missiles varies between 223-238 thousand dollars for normal missiles and $2.923 million for precision missiles, which has been used extensively in Yemen. Added to this is the cost of more than 30,000 flight hours and the cost of food and logistical supplies for more than six months. Estimates of the cost of the weapons as of last February were $1.6 billion, excluding logistical costs.”
Antonio Albanese e Graziella Giangiulio
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