22:06 - 27.07.2026

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July 28, Fineko/abc.az. Lloyd's of London, the world's leading insurance market, has informed the Saudi maritime industry that it is suspending the underwriting of war risk insurance for vessels associated with Saudi Arabia navigating the Red Sea.

The restriction applies broadly to any vessel with "Saudi touchpoints," including foreign-flagged ships or those that have previously called at Saudi ports. The withdrawal of coverage leaves shipping corridors on both flanks of the kingdom under a virtual blockade.

Meanwhile, Houthi forces warned that their recent strikes on Saudi targets mark only the opening stage of a broader military campaign.