Report: Houthi attacks on commercial ships affect the living conditions of Yemenis

The Houthi attacks on commercial ships have had deep and direct impacts and losses on the economic and living conditions of Yemenis, in exchange for personal gains for the Iran-backed militias. Furthermore, the attacks have been an additional factor in undermining the peace process in Yemen. A new report said on Wednesday.

A report issued by the Media and Economic Research Forum, indicated that Houthi attacks have led to an increase in commodity prices, along with rising insurance rates and maritime transportation costs, as well as a decrease in the supply of goods and services in local markets.

According to the report, the attacks have led to a halt or reduction in the volume of imports of humanitarian aid to Yemen, increasing the risk of famine and food insecurity.

The Houthi attacks on navigation in the Red Sea have posed a new economic threat to Arab countries surrounding the Red Sea, as they disrupt global trade, increase shipping and insurance costs, and hinder supply chains. These factors have led to a dramatic increase in prices in Arab countries, as well as a rise in the cost of living.

Despite the losses suffered by the Yemeni economy and the economies of Arab countries, the profits of American companies operating in the fields of arms sales, marine transport insurance, and maritime shipping are increasing in a reciprocal relationship that embodies the traditional Arabic saying that "one person’s disaster is another person’s profit" (What's good for the goose).

According to the report, 154 attacks on ships were carried out by the Houthis from November 19, 2023, to June 28, 2024, in the Red Sea, Gulf of Aden, Indian Ocean, Mediterranean Sea, and Bab el Mandeb.