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Iran Warns U.S. over ‘Adventurism’ in Red Sea; Growing Impact on World Shipping

Iran’s Ambassador to the United Nations Amir Saeid Iravani wrote an open letter on Jan. 9 about the situation in the Red Sea in which he said, according to Sputnik: “[Iran] issues a stern warning against any U.S. adventurism that could endanger regional peace.” He wrote that Houthi actions were a response to Israel’s U.S.-backed “genocidal war” in Gaza, and he called on the United Nations Security Council to “uphold its responsibility to address” the “root causes” of the crisis.

Sputnik also reported that the Houthi attacks on Israel-bound ships have contributed to a significant impact on commercial shipping through the Suez Canal. “Houthi attacks and threats have prompted a dozen-and-a-half commercial shipping majors to halt their operations through the Red Sea, with Israeli insurance costs climbing through the roof and global shipping costs jumping by as much as 170% as vessels are forced to take the long way around the southern coast of Africa.”

Bloomberg reported that Indian trade was taking a particularly big hit from the disruptions, according to a report prepared by Research and Information System for Developing Countries, a New Delhi-based thinktank. “India may see around $30 billion shaved off its total exports in the current fiscal year,” according to Bloomberg, which would mean a 6.7% drop in Indian exports.

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