EU SAYS RED SEA ATTACKS NOT YET AFFECTING PRICE OF ENERGY OR GOODS

Wed 24 January 2024:

“The broader economic impact, the impact on consumer prices and the EU economy in general will depend greatly on the duration of this crisis,” Dombrovskis explained.

It was now important to discuss measures to protect merchant shipping in the Red Sea, the EU trade commissioner added.

Following an EU agreement in principle, a military operation to secure commercial shipping in the Red Sea is to begin next month and help end attacks on ships by the militant Islamist Houthis from Yemen.

The Houthi rebels have been shelling ships in a bid to force an end to Israeli attacks in the Gaza Strip, which followed the Hamas’ attack on Israel on October 7.

The EU operation will be independent of the ongoing operation launched by the United States and the United Kingdom, backed by a few other countries, to attack Houthi bases lobbing missiles at merchant ships.

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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