Concerns rise that the Houthis could start levying transit fees in the Red Sea

[Financial News] A warning has been raised that the Houthis, based in South Yemen, could begin charging transit fees to ships passing through the Red Sea.
On the 8th (local time), United Arab Emirates (UAE) outlet The National reported that a study by maritime intelligence firm Huax Intelligence concluded the Houthis are applying in the Red Sea and the Bab-el-Mandeb Strait the same kind of maritime pressure tactics that the Islamic Republic of Iran uses in the Strait of Hormuz.
Arsenio Longo, founder of Huax Intelligence, told The National that the Houthis, backed by the Islamic Republic of Iran, have over the past two weeks allowed only non-United States of America (US) and non-Israeli vessels to pass through the Bab-el-Mandeb Strait and the Red Sea, in a way similar to Iran’s control tactics in the Strait of Hormuz.
He added that Iran may use the Houthis as a bargaining chip to extend its control westward from the Strait of Hormuz to additional navigation points.
Along with Hezbollah, Hamas and pro-Iranian militias in Iraq, the Houthis are part of Iran’s so-called "axis of resistance." Since the 28th of last month, they have intervened in the current war by launching ballistic missiles and drones at Israel.
The Houthis began attacking and seizing ships in 2023 in response to the war in the Gaza Strip.
The international community has also moved to respond. The United States of America (US) launched Operation Prosperity Guardian to protect commercial vessels, and the European Union (EU) plans to continue Operation ASPIDES until February next year.
Former Iranian foreign minister Ali Akbar Velayati warned on social networking service (SNS), "The axis of resistance regards Bab-el-Mandeb as equivalent to Hormuz," adding, "With a single move, it can disrupt global energy and trade flows."
The National reported that tensions in the waters controlled by the Houthis are even higher than in the Strait of Hormuz.
Ships transiting the Red Sea are notifying that they have armed guards on board or stressing, in the strongest possible terms, that they have no connection to the US or Israel.
Neil Roberts, Director of Marine Affairs at Lloyd's Market Association (LMA), expressed concern, saying, "Only time will tell whether this ceasefire is genuine peace or merely a pause," and, "With fundamental tensions unresolved, the likelihood that trade in the Gulf region will quickly return to normal is very low."

jjyoon@fnnews.com Reporter Yoon Jae-joon Reporter