Red Sea disruption threatens Italy's economic stability

Politics 14:30 01.02.2024

Ongoing disruption in the Red Sea threatens to destabilise Italy's economy and marginalise ports in southern Europe, Italy's defence minister said on Thursday.

Attacks since mid-November on commercial vessels by Iran-aligned Houthi militants, who control the most populous parts of Yemen, have disrupted international shipping, forcing some companies to suspend transit through the Red Sea and instead take a much longer, costlier journey around South Africa, Ednews reports.

"From a geopolitical perspective, the continuing of this situation could lead to the marginalisation of ports on the Mediterranean Sea," Defence Minister Guido Crosetto told lawmakers from parliament's defence committees.

"Not only does it threaten the security of navigation but also (Italy's) economic stability".

The minister said that commercial traffic through the Suez Canal -- which he estimated to represent some 40% of Italy's total maritime trade -- had dropped by 38% by the last week of 2023. Navigation times increased by 10-12 days and costs increased almost five-fold, he added.

Crosetto said that, within the framework of the European operation in the area named Aspides, Italy was considering sending aircraft with surveillance and data collection tasks, in addition to the military vessel it will supply for 12 months.

IEPF issued a statement regarding Azerbaijani children at the UN Human Rights Council

News line

Singapore’s May 3 Election : Cost of Living, Housing, and Jobs in Focus
13:17 15.04.2025
Xi Jinping’s Vietnam Visit: A Strategic Response to U.S. Trade Pressures
13:08 15.04.2025
Threads of Silence: Afghan Women Weaving Through Shadows
12:59 15.04.2025
WHO Condemns Gaza Hospital Strike as Ceasefire Talks Stall
12:49 15.04.2025
Putin and US Envoy Hold Four-Hour Talks Amid Pressure From Trump Over Ukraine Ceasefire
12:22 15.04.2025
Silenced but Not Defeated: Life Under Russian Occupation in Ukraine
12:11 15.04.2025
Trump’s Tariffs and the Strategic Push for Domestic Semiconductor Manufacturing
12:03 15.04.2025
Trump’s Controversial Comments on Ukraine War Spark International Debate
11:55 15.04.2025
Shocking Study Reveals Over Three Million Children Lost Their Lives in 2022 Due to Antibiotic-Resistant Infections
11:40 15.04.2025
Running on Empty: The Helium Supply Crisis and Its Global Impact
11:32 15.04.2025
Birmingham in Crisis: Bin Workers Reject Pay Deal as Rubbish Mounts
11:21 15.04.2025
Beneath the Brushstrokes: Hidden Faces, Forgotten Stories
11:14 15.04.2025
The Birth of American Photography: Art, Identity, and Industry
10:41 15.04.2025
Global Warming Fuels Extreme Seasonal Allergy Events and Rising Pollen Levels
10:30 15.04.2025
Tensions Resurface in the Grey Zone: US and Canada Clash Over Machias Seal Island
10:20 15.04.2025
Severe Sandstorm Hits Iraq : Airports Closed, Hundreds Hospitalized
10:07 15.04.2025
Russian Attack on Sumy Kills Dozens — West Demands Action
11:17 14.04.2025
Palestinian Teenager Ahmad Manasra Released from Israeli Prison After Nine-Year
12:57 11.04.2025
Global Markets Reacted To Trump's Tariff Policies
12:46 11.04.2025
Canada’s Federal Election Set for April 28 Amidst Heightened U.S. Tensions
12:39 11.04.2025
Israel Bombs Gaza’s Only Operational Water Desalination Plant
12:34 11.04.2025
Pete Hoekstra Confirmed as U.S. Ambassador to Canada Amidst Heightened Trade Tensions
12:32 11.04.2025
Information Lost or Found? The Great Black Hole Paradox
12:09 11.04.2025
Trump Targets Shower Regulations Again: ‘Make America’s Showers Great
11:23 11.04.2025
When the Play Doesn’t End: The Real-World Impact of Game Transfer Phenomenon
11:09 11.04.2025
UK and Germany Lead £450m Military Aid Package to Ukraine Amid Push to Pressure Putin
10:58 11.04.2025
General Strike Paralyzes Argentina as Public Protests Austerity Measures
10:45 11.04.2025
Trump Tariff Strategy Update
10:23 11.04.2025
Bond and Paddington set to star at Universal park
12:49 10.04.2025
Where do Earth asteroids come from – and what can we learn form them?
12:27 10.04.2025
USA Urges Russia to Decide on Peace in Ukraine Within Weeks
12:06 10.04.2025
Space-Based Data Centres: The Future of Secure, Sustainable Computing?
12:03 10.04.2025
Russian Missile Attack on Kryvyi Rih Claims Lives
12:03 10.04.2025
Zelensky Acknowledges Operations in Belgorod and Kursk Regions
11:47 10.04.2025
Governor Calls for Immediate Military Reinforcements as Attacks Intensify
11:30 10.04.2025
Nebulae: Crucial Structures in the Universe’s Evolution
11:08 10.04.2025
Ukrainian President Zelensky Accuses Russia of Recruiting Chinese Nationals for Combat
11:04 10.04.2025
Hamas Claims Massacre After Israeli Airstrike Hits Gaza City
10:56 10.04.2025
Drawing the Heart of the City: Bristol’s Pubs Through One Artist’s Eyes
10:34 10.04.2025
Calls for Ceasefire Grow Amid Hostage Crisis and Renewed Fighting in Gaza
10:23 10.04.2025
Hamısı