What impact will it have on the world if Bab al-Mandeb is closed?
According to experts, this strait is very important for global trade. It is estimated that about 12% of the world’s maritime trade and about 10% of oil supplies pass through this route. If this route is closed:
- There could be huge delays in Asia-Europe trade
- Oil and gas prices may increase rapidly
- Global supply chain may be affected
- Shipping companies’ costs and insurance premiums may increase.
In the past too, when there were attacks in this area, many big shipping companies had to divert their ships.