Free Trial

EU Aim to Launch Red Sea Security Mission in February

OIL

The EU is aiming to launch a naval mission to help commercial ships pass the Red Sea from February according to the bloc’s foreign affairs chief Josep Borrel. It still awaits member approval.

  • The EU still needs to decide which country takes control of the mission. Other logistical details remain thin at present such as which ships will be involved.
  • The mission will be to protect ships rather than take direct action against Houthi rebels.
  • “It’s affecting costs, it’s affecting inflation so it’s a natural endeavor for us to try to avoid this risk,” Borrell said.
  • The US and UK have already launched strikes, making their vessels a target for Houthi rebels.
  • US naval vessels have also been targeted while their attempts to escort Maersk vessels in recent weeks failed to thwart Houthi attacks showing the limited ability the support provides from aerial attacks.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.