Ceasefire May Not End To Red Sea Attacks; US & UK Sanction Snr IRGC Ldr

As noted in our 1444GMT commodities bullet, Maersk has warned of the prospect of shipping through the Red Sea being impacted into H224 due to Houthi attacks. With negotiations ongoing between Israel, Hamas and their intermediaries on a potential ceasefire-hostage exchange deal (see 1040GMT bullet), there will be some focus on whether any eventual ceasefire could lead to an end to the Houthi attacks.

• Saudi-owned Arab News reports "Not everyone is convinced that securing a ceasefire in Gaza will end the Houthi attacks on shipping. [...] Raiman Al-Hamdani, a researcher at social enterprise organization Ark, agreed that attacks are likely to continue after the war, but in the form of piracy in a “push to monetize their presence” [they] could begin demanding taxes from vessels passing through Bab Al-Mandab Strait in return for not striking them. Farea Al-Muslimi, a research fellow at Chatham House, likewise believes the Houthis have hit upon an opportunity to raise revenues from passing vessels. “They will, of course, try to make deals and there are already countries that are looking for waivers,”
• There is little sign of de-escalation so far, with the US and UK sanctioning Iranian and Yemeni individuals earlier today. Those sanctioned include Deputy Commander of Iran’s Islamic Revolutionary Guard Corps-Quds Force (IRGC-QF), Mohammad Reza Falahzadeh, a very senior figure within Iran's military hierarchy. The sanctions have also hit a ship owned by Hong Kong-based Cap Tees Shipping Co., Ltd, which the US Treasury claims to have "has transported Iranian commodities for the network of [Houthi financial facilitator] Sa’id al-Jamal."