20:50 - 24.07.2026
July 24, Fineko/abc.az. War risk insurance premiums for commercial ships navigating the Red Sea have more than doubled following an announcement by Yemen's Iran-aligned Houthis of a naval blockade on Saudi Arabia.
According to Reuters, indicative insurance rates surged to approximately 0.75% of a vessel's value, up from around 0.3% prior to the Houthi declaration. The publication notes that the Houthis' actions open a new front against the U.S. within the broader conflict surrounding Iran.
Furthermore, this move significantly widens the scope of threats to global energy supplies and maritime trade, extending the disruptions well beyond the Persian Gulf.
