Stay informed with the latest breaking news as the US launches strikes against Houthi anti-ship missiles, causing disruptions in global shipping. The Red Sea tensions escalate, and major powers are on high alert. Get insights into the growing security concerns and the impact on world trade. Subscribe for real-time updates on this developing situation.
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NewsTranscript
00:00 Breaking developments in the Red Sea as the US initiates fresh strikes against Houthi
00:10 anti-ship missiles.
00:12 The region's sea lanes face heightened tensions causing disruptions in global trade and sparking
00:17 concerns about potential supply bottlenecks that may fuel inflation fears.
00:23 The US military has targeted two imminent threats posed by anti-ship missiles being
00:28 prepared by Yemen's Houthis for deployment into the Red Sea posing risks to shipping
00:34 and US Navy vessels in the area.
00:37 In the latest incident escalating tensions in the Red Sea, the Iran-allied Houthi militia
00:41 targeted ships disrupting trade between Asia and Europe since November.
00:46 Major powers are on high alert amid the ongoing conflict between Israel and Palestinian Hamas
00:52 militants in Gaza.
00:54 The Jenko Picardi, a US-operated vessel, faced a second attack this week in the Gulf of Aden
01:01 on Wednesday, January 17, leading to the on-board fire.
01:05 The Indian Navy intervened to rescue the crew, including nine Indians, highlighting the growing
01:10 security concerns in the region.
01:13 The Houthi militia, claiming solidarity with Palestinians, has threatened to target US
01:18 ships in retaliation for American and British strikes on their positions.
01:24 The strategy employed by US President Joe Biden involving limited military strikes and
01:29 sanctions seems geared towards preventing a broader conflict in the Middle East while
01:34 addressing the threat posed by the Houthis, according to security and military experts.
01:40 Despite acknowledging that the recent US strikes did not halt Houthi attacks, President Biden
01:45 affirmed that the military responses would persist.
01:49 The Pentagon positioned the strikes as defensive measures aimed at safeguarding maritime routes,
01:55 emphasizing that the US is not at war with the Houthis.
01:59 Pentagon spokesperson Sabrina Singh clarified that the Houthi actions, including launching
02:04 cruise missiles and anti-ship missiles, prompted these acts of self-defense in collaboration
02:09 with partners.
02:11 The Houthi statement warned of inevitable retaliation for any new aggression.
02:17 In conclusion, the ongoing attacks in the Red Sea disrupting the route responsible for
02:21 approximately 15% of global shipping traffic pose significant challenges to the world's
02:28 trade dynamics.
02:29 This critical conduct between Europe and Asia is vital for efficient and timely shipping,
02:34 and any disruption triggers substantial consequences.
02:38 With the alternative route around South Africa's Cape of Good Hope adding considerable time
02:44 to journeys, concerns are mounting about the economic impact on various sectors.
02:50 The sharp decline in revenue from the Suez Canal excavates Egypt's economic woes, impacting
02:56 wheat shipments and sending ripples through the business world.
03:00 The crisis is reviving worries about strategic supply chains and altering shipping patterns,
03:06 prompting major companies like Denmark's Marks to redirect vessels, potentially causing congestion
03:12 at container terminals.
03:14 As the situation unfolds, ports in Italy and France express concerns about being bypassed,
03:20 while officials in Rotterdam accept increased traffic and delayed arrivals.
03:26 The Red Sea crisis underscores the fragility of global supply networks and the need for
03:31 strategic resilience in the face of unforeseen disruptions.
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