Stay updated with breaking news from Health claims. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
to protect commercial ships in the red sea. countries joining the security group include the uk, france, canada, bahrain, norway and spain. it comes after the energy giant, bp, suspended its shipping operations through the red sea because cargo vessels are being attacked by houthi rebels from yemen. this is the route taken by around 12% of world shipping which then passes through the suez canal. but several major freight companies have now stopped passing through here. because of the risk. instead they are taking the much longer route all the way around africa via the cape of good hope. that adds costs and delays. here s the us defense secretary lloyd austin. these attacks are reckless, dangerous and they violate international law. we are taking action to build an international coalition to address the threat. i would remind you that this is not just a us issue, this is an international problem and it deserves an international response. joining me now is marc 0stwald, c ....
countries will include the united kingdom, bahrain, canada, france, italy and spain, among others. this is notjust a us issue, this is an international problem and it deserves an international response. and that s why i m convening a meeting tomorrow, a ministerial meeting, with fellow ministers in the region and beyond to address this threat. for exactly what this shipping disruption might mean for the global economy, i spoke to hung tran, who s a seniorfellow at the atlantic council and also former deputy director at the international monetary fund. this area of the red sea leading to the suez canal is quite important in terms of the volume of trade passing through it. about 12% of global trade passes through the red sea, including 30% of the container shipping. all together, it accounts for about us$1 trillion per year of world trade, so it is quite significant, and a disruption there would cause damage to world trade. aside from avoiding this area, what can companie ....
italy and spain, among others. this is notjust a us issue, this is an international problem and it deserves an international response. and that s why i m convening a meeting tomorrow, a ministerial meeting, with fellow ministers in the region and beyond, to address this threat. for more on what the shipping disruption might mean for the global economy, i m joined from washington by hung tran, a senior fellow at the atlantic council and former deputy director at the international monetary fund or imf. thank you so much forjoining us on the programme. firstly, if you can explain how important this area is to global trade? important this area is to global trade ? important this area is to global trade? important this area is to ulobaltrade? , ., ., ., global trade? this area of the red sea leading global trade? this area of the red sea leading to global trade? this area of the red sea leading to the - global trade? this area of the red sea leading to the suez l red ....
havoc to global trade. speaking in bahrain, the us defense secretary lloyd austin said participating countries include the united kingdom, bahrain, canada, france, italy and spain, among others. this is notjust a us issue, this is an international problem and it deserves an international response. and that s why i m convening a meeting tomorrow, a ministerial meeting, with fellow ministers in the region and beyond to address this threat. for more on what the shipping disruption might mean for the global economy, i m joined from washington by hung tran, a senior fellow at the atlantic council and former deputy director at the international monetary fund. this area of the red sea leading to the suez canal is quite important in terms of the volume of trade passing through it. about 12% of global trade passes through the red sea, including 30% of the container shipping. altogether, it accounts for about us$1 trillion per year of trade, so it is quite significant, and a disr ....
translation: regarding the reduction in aid, and if that translation: regarding the reduction in aid, and if that has translation: regarding the reduction in aid, and if that has an translation: regarding the reduction in aid, and if that has an impact, - in aid, and if that has an impact, the fact in aid, and if that has an impact, the fact that ukraine didn t have air the the fact that ukraine didn t have air the premises had an impact on the operation in 2023. we don t control the operation in 2023. we don t control the skies, we don t have enough control the skies, we don t have enough ammunition, but that doesn t mean enough ammunition, but that doesn t mean that enough ammunition, but that doesn t mean that we will not find a solution mean that we will not find a solution. but for this, we really need solution. but for this, we really need support, because we simply lack some need support, because we simply lack some weaponry. our corresponden ....