Reuters reports that most European financial officials have not witnessed a major economic hit coming from shipping being increasingly disrupted in the Red Sea by Houthi forces and ships forced to circumvent Africa, instead, aside from inflation reduction slowing and delivery times lengthening.
Per the report, the slack in the global economy has contributed to the light hit European countries have taken from not being able to use the fastest shipping route from Asia via the Red Sea and the Suez Canal.
However, since 25% of European imports come from Asia, the longer the Houthi blockade continues, the more Europe risks suffering real economic harm.
Meanwhile, the US and UK continue to launch air and missile strikes against Houthi anti-sea capabilities, including missile sites and radar installations, but so far without ending or deterring Houthi attacks.
