[AdmSmith]

An investigation by Sheba Intelligence reveals that the Iranians have begun planning to establish a free economic zone on the Red Sea coast in the Ras Issa of Al-Hudaydah as part of the benefits they will gain from the war in Yemen.

The investigation quoted commercial sources confirming that Iranian companies have completed engineering plans for the region, including constructing a number of docks to receive goods and oil shipments, constructing buildings and warehouses for goods, and completing six tanks to store Iranian oil shipments.

One Yemeni businessman described the project as “a partnership between the Houthis and the Iranian Revolutionary Guard Corps”.

Another report says: “By being present in this region, Iran can communicate with allied groups and countries such as the Houthis in Yemen or others in East Africa, or Palestinian resistance groups, besides securing and expanding its economic interests and spreading the ideology and thought of the religious revolution.”

https://shebaintelligence.uk/iran-plans-to-establish-economic-zone-with-military-agenda-in-yemens-ras-issa

This only works if there is quasi-peace in the area.

[AdmSmith]

Since mid-December, about 1,700 ships carrying 145 million tons of goods have been diverted from Suez Canal transit, and volumes are estimated to have fallen 56% year-over-year in February.

https://twitter.com/heimbergecon/status/1763841131119337814