American President Donald Trump has declared that after more than 17 months, the Red Sea shipping crisis is coming to a close. He said that Yemen’s Houthis have agreed to halt their attacks on shipping and that Washington would in turn stop carrying out strikes on the Iran-backed rebels. Trump’s claims have been backed up by Oman’s foreign minister, who has been negotiating between the two sides. The news comes after a particularly explosive few days for Arab ports on the Red Sea with the Yemeni ports of Ras Issa Oil and Hodeidah as well as Port Sudan all being bombed over the past week. Shipping volumes in the Red Sea continue to be depressed, currently around 50% lower than 2023 figures, according to data from SEB, a Swedish bank, as per a report.
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