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Israel’s economy shrinks more than expected on Gaza war

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The Red Sea is one of the world’s most important routes for cargo – almost 15% of global seaborne trade usually passes through the area.

The Houthis have been carrying out strikes from bases in Yemen on ships which they claim are Israeli-owned, flagged or operated, or are heading to Israeli ports. However, the owners and operators of many vessels claim they have no links with Israel at all.

The US and the UK have carried out retaliatory strikes on Houthi targets in Yemen in turn.

But even before this, some of the world’s largest shipping companies had stopped their vessels from passing through the strait. (Source: BBC)

The post Israel’s economy shrinks more than expected on Gaza war appeared first on DailyNews.

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