The Gaza ceasefire which went into effect Sunday morning, ending a 470-day conflict which has reportedly killed over 47,000 – has continued to hold. Palestinians are returning to northern Gaza in droves, picking through the rubble and seeking to identify their homes and belongings.
Yemen’s Houthis starting last week signaled they would stop their missile and drone attacks on international shipping in the Red Sea. As of Monday, the Houthis have announced a halt to these attacks, but with an important exception.
International ships will no longer come under attack, the Houthis said, but attacks on Israeli-linked commercial and military vessels will continue.
“We affirm that, in the event of any aggression against the Republic of Yemen by the United States of America, the United Kingdom, or the usurping Israeli entity, the sanctions will be reinstated against the aggressor,” the Houthis said in a written statement reported by Reuters.
“You will be promptly informed of such measures should they be implemented,” it continued. The Houthis further said that even Israeli-linked ships will stop being targeted “upon the full implementation of all phases of the agreement.”
The first of three phases is set for 42-days, during which time the terms of the subsequent phases will be negotiated and set. Hamas has already released three Israeli hostages, and dozens of Palestinians who were imprisoned in Israel have been exchanged.
On Friday, just before the ceasefire was implemented, Houthi leader Abdulmalik Al-Houthi had warned that if the ceasefire didn’t hold, the Houthi attacks on commercial shipping would continue. “Any Israeli breach, massacre, or siege — we will be immediately ready to provide military support to Palestinians,” he had stressed.
He said his movement, formally known as Ansar Allah, will “confront any aggression, whether by the Israelis, the Americans, or their allies, or any attempts to divert our country from its liberated jihadist path.”
Bloomberg meanwhile reviewed that “Most Western-linked container ships have over the past year chosen to take the much longer route around southern Africa when sailing between Asia and Europe, and kept clear of the Red Sea. That’s squeezed global shipping capacity, lifting freight rates and boosted the earnings of carriers like Mitsui OSK.”
“Container-shipping giants A.P. Moller Maersk A/S and Hapag-Lloyd AG last year announced a vessel-sharing partnership for the alternative route,” the report continues.
“Crude Oil Dips As Yemen’s Houthi Militia Plans To Halt Red Sea Ship Attacks.” – https://t.co/jdS9M0UO55
— Navroop Singh (@TheNavroopSingh) January 20, 2025
Egypt has said its taken a $7 billion hit in revenue decline from the Suez Canal for 2024, which marks about a 60% drop from prior years.
If the Yemeni operations directly against Israel do persist in face of the truce, it would complicate or damage efforts to keep the peace in the Gaza Strip, as it’s already sure to be an extremely delicate and fragile truce. The Houthis have up to this point in the war launched several ballistic missiles on Israel, causing limited damage and casualties.
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