The war between Israel and Hamas extends to the seas. Following the tension in the Red Sea due to the actions of the Houthi rebels, today, Saturday, December 23, a drone attack was carried out in the Indian Ocean on a tanker stated to be “linked to Israel”: The Jewish state believes that the attack was organized by Iran. A commander from Iran’s Revolutionary Guard also said that the Mediterranean could be “closed” if the United States and its allies continue to commit “crimes” in Gaza. The threats to the Italian economy are concrete, with maritime traffic in danger of being paralyzed.
Iran threatens: “Closing the Mediterranean Sea, the Strait of Gibraltar and other waterways”
Iranian threats reported Reuters, It quotes Pasdaran commander Mohammed Reza Naqdi as saying: “They should expect the Mediterranean, the Strait of Gibraltar and other waterways to be closed soon.” Iran does not have direct access to the Mediterranean and it is unclear how it will seek to close it, but Naqdi spoke of “the rise of new resistance forces and the closure of other waterways.”
In recent days, signs of increasing tension are clearly visible after the US and its allies turned to a mission to protect ships passing through the Suez Canal, following the intensification of attacks by Houthi rebels in the Red Sea. Italy also participates by sending the anti-missile ship “Fasan”.
However, today the tension also spread to the Indian Ocean: a drone exploded on a tanker flying the Liberian flag and used to transport chemical products “bound to Israel”. This was announced UK Merchant Marine Operations (Ukmto) stated that the ship was hit 200 nautical miles off Veraval, India. “Some structural damage was reported and water was taken on board, but no victims were recorded – the note adds: Vessels are advised to transit with caution and report any suspicious activity.”
As can be seen from the map above, the attack took place hundreds of kilometers away from the Red Sea and Bab al-Mandeb Strait (circled in red), which were targeted by the Houthis in response to the war. It targets ships bound for Israel in Gaza or going to Israeli ports. Israeli broadcaster reported channel 12, Israel says the drone came from Iran. The United States accused Iran of being “deeply involved” in Houthi rebels’ attacks on commercial ships in the Red Sea after news of the attack on the cargo ship broke.
The White House said Tehran’s support for the Yemeni rebel group included both weapons and tactical intelligence, presenting recently declassified information indicating Iran played a role in the attacks (denied by Tehran).
What are the risks for the economy: Italy is involved
There is a risk that the global maritime trade system will be disrupted due to the tension created by the war between Israel and Hamas, and the repercussions of this may also concern Italy. It should be noted that the Suez Strait is a key hub at the international level. For Italy, more than 40 percent of Italian maritime trade passes through here, with a value of approximately 83 billion euros, as stated in a document published by the think tank Cassa Depositi e Prestiti.
The route is heavily traveled by ships carrying fuel, especially diesel; Any interruption in traffic will cause cargo boats to extend their journeys, resulting in increased prices of goods. To avoid crossing Yemen’s coast, container ships and oil tankers will have to use the longer and more expensive Cape of Good Hope route, potentially adding around 10 days and millions of dollars to the journey.
Assoporti, the association that brings together officials of the Italian port system, said they were concerned about “the decisions of the main shipping companies in recent days to avoid transit through the Red Sea and the Suez Canal for security reasons.” In a statement.
A new shock to prices in Europe due to the “closing” of the Red Sea
“These decisions concern us about the effects they may have on the movement of goods, delivery times and freight prices and, as a result, on the cost of goods to the final consumer,” said Assoporti resident Rodolfo Giampieri – Il Mediterraneo. Returning to the center of navigation routes, making Italy even more strategic, risks incurring a forced slowdown in movement. “If this decision continues over time, there will be serious damage to Italian ports.”
Source: Today IT
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
