West Asia Crisis: In a major development in the ongoing war in the Middle East, Yemen-based Houthis on Saturday launched ballistic missiles at Israel after holding back for nearly a month. In its statement, the Iran-backed group asserted that the attacks will be intensified if the economic centres of Iran are further attacked. While the attack is likely to add a new dimension in the conflict, it is also likely to worsen the energy crisis across the world.
The entry of Houthis in the war is likely to disrupt the ships' movement through the Bab el-Mandeb strait at the mouth of the Red Sea. Earlier in 2023, the group disturbed the movement of several vessels passing through the chokepoint, leading to a minor crisis in several nations. However, the concern is deeper this time as the Strait of Hormuz, another critical chokepoint, has already been disturbed, leading to a significant surge in the energy prices, especially in the Asian nations.
Could It Trouble India?
The disruption in the movement of ships through the Bab el-Mandeb Strait could affect the business ties with the European nations. While the Hormuz is critical for energy imports to India through the Arab nations, the Bab el-Mandeb strait is crucial for India's exports, especially to Europe. As per the reports, around 80 per cent of Delhi's trade with the western countries passes through this chokepoint.
Any disruption could lead to larger damage to the European Union, as it accounts for over 15 per cent of India's exports. In case of any disruption, the ships will have to pass through the Cape of Good Hope, adding at least 10 days of extra travel, leading to additional travel costs.
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Several developing nations, like India, are heavily dependent on the chokepoint for their businesses with the western nations. The war between Iran and the joint forces of Israel and the US has nearly completed a month, with no signs of immediate peace in the region.