Has the West Succeeded in Containing Houthi Red Sea Attacks?

This handout photo released by the US Defense Visual Information Distribution Service (DVIDS) shows US Navy F/A-18F Super Hornet fighter aircraft of the Carrier Strike Group 2 (CSG2), deployed to support maritime security in the Middle East region, flying over the Red Sea on June 11, 2024. (US Navy/AFP)
This handout photo released by the US Defense Visual Information Distribution Service (DVIDS) shows US Navy F/A-18F Super Hornet fighter aircraft of the Carrier Strike Group 2 (CSG2), deployed to support maritime security in the Middle East region, flying over the Red Sea on June 11, 2024. (US Navy/AFP)
TT

Has the West Succeeded in Containing Houthi Red Sea Attacks?

This handout photo released by the US Defense Visual Information Distribution Service (DVIDS) shows US Navy F/A-18F Super Hornet fighter aircraft of the Carrier Strike Group 2 (CSG2), deployed to support maritime security in the Middle East region, flying over the Red Sea on June 11, 2024. (US Navy/AFP)
This handout photo released by the US Defense Visual Information Distribution Service (DVIDS) shows US Navy F/A-18F Super Hornet fighter aircraft of the Carrier Strike Group 2 (CSG2), deployed to support maritime security in the Middle East region, flying over the Red Sea on June 11, 2024. (US Navy/AFP)

The US and western powers appear “incapable” of containing the attacks by the Houthis in Yemen against commercial ships in the Red Sea eight months after the Iran-backed militias started launching their operations.

The Houthis have been carrying out drone and missile strikes on shipping lanes since November, saying they are acting in solidarity with Palestinians in Israel's war in Gaza.

The US, UK and European powers have since dispatched missions to the region to counter these attacks with apparent little success as the Houthis have upped their operations, with their strikes even reaching the Mediterranean.

Dr. Najeeb Ghallab, undersecretary at Yemen's Information Ministry, said the West still wrongly believes that the Houthis can be “rehabilitated” and employed to combat terrorism.

US envoy to Yemen Tim Lenderking said in April that a military solution was not possible to resolve the problem in Yemen.

Ghallab added that the US, West and even China have “all failed” in containing the Houthi attacks in the Red Sea and their threats to international navigation.

“The Houthis are a suicideal phenomenon that is more dangerous than ISIS, the Taliban and al-Qaeda. These groups did not threaten international trade the way the Houthis are doing now. In spite of this, the West is still incapable of taking firm decisions,” he went on to say.

The Houthis are labeled as “reckless”, not “terrorist”, when they violate the interests of the Yemeni people and the entire world, he lamented.

“The Americans have a blind spot in handling the Yemeni file. They are still following Obama’s approach and favoring Iran’s agents in the region,” Ghallab stressed.

The Americans and UK have carried out around 530 strikes against the Houthis since January, leaving 58 of their members dead and 86 injured, according to the militias.

The Houthi attacks have so far hit 27 ships, sinking two.

Ghallab wondered why western powers have yet to strike the Houthi command and control centers. The US is only targeting command and control centers from where the rockets are being fired, but they have yet to attack critical Houthi locations.

Have the western powers struck a deal with the Houthis as part of a plan to legitimize them in Yemen and turn them into a partner with all national powers? he asked.

He dismissed the possibility, stressing that the Houthis are extorting the Arab coalition, legitimate Yemeni government and international community.

Moreover, he warned that the world is facing in the Houthis “an organized and professional terrorist” group, meanwhile, “no one is prepared to support the legitimate powers in Yemen to end the Iran-made crime in the country.”

“The world remains blind when it comes to Yemen. Yes, the Houthis may be claiming victories now, but, at the end of the day, they will be defeated,” he remarked.

Asked about the best way to confront the Houthis, he replied: “The answer may be impossible, but it is simple. We have a real force on the ground in Yemen, not just in regions held by the legitimate government, but in Hodeidah, Saada and Sanaa. Everyone there is looking for salvation from the Houthis.”

“Are foreign powers prepared to support the real forces so that a Yemeni state can be formed?” he wondered, while noting that the West “is opposed to the idea of freedom and revolution in Yemen.”

“This is a western problem, not a Russian or Chinese one. This isn’t a conspiracy,” he went on to say. “Rather, the West is strategically blind to the situation.”



COP29 - How Does $300 Billion Stack up?

A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)
A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)
TT

COP29 - How Does $300 Billion Stack up?

A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)
A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)

Countries agreed at the UN's COP29 climate conference to spend $300 billion on annual climate finance. Here are some ways of understanding what that sum is worth:

MILITARY MIGHT

In 2023, governments around the globe spent $6.7 billion a day on military expenditure, according to the Stockholm International Peace Research Institute.

That means the $300 billion annual climate finance target equates to 45 days of global military spending.

BURNING OIL

$300 billion is currently the price tag for all the crude oil used by the world in a little over 40 days, according to Reuters calculations based on global crude oil demand of approximately 100 million barrels/day and end-November Brent crude oil prices.

ELON MUSK

According to Forbes, Elon Musk's net worth stood at $321.7 billion in late November. The world's richest man and owner of social media platform X has co-founded more than half a dozen companies, including electric car maker Tesla and rocket producer SpaceX.

STORM DAMAGE

Hurricane Katrina, one of the most devastating and deadliest cyclones in US history, caused $200 billion in damage alone in 2005.

This year's climate-fueled Hurricane Helene could end up costing up to $250 billion in economic losses and damages in the US, according to estimates by AccuWeather. While preliminary estimates by Morningstar DBRS suggest Hurricane Milton, also supercharged by ocean heat, could cost both the insured and uninsured nearly $100 billion.

BEAUTY BUYS

The global luxury goods market is valued at 363 billion euros ($378 billion) in 2024, according to Bain & Company.

COPPER PLATED

The GDP of Chile - the world's largest copper producing country - stood at $335.5 billion in 2023, according to World Bank data.

GREECE'S BAIL OUT

Euro zone countries and the International Monetary Fund spent some 260 billion euros ($271 billion) between 2010 and 2018 on bailing out Greece - the biggest sovereign bailout in economic history.

BRITISH BONDS

Britain's new government needs to borrow more to fund budget plans. Gilt issuance is expected to rise to 296.9 billion pounds ($372.05 billion) for the current financial year.

TECH TALLY

A 10% share of tech giant Microsoft is worth just over $300 billion, according to LSEG data. Meanwhile the market cap for US oil major Chevron stood at $292 billion.

CRYPTO

The annual climate finance target amounts to 75% of the total value of the global market for crypto currency Ether, the world's second-largest cryptocurrency.

Alternatively, 3 million Bitcoin would cover the annual climate finance target as the world's largest cryptocurrency closes in on the $100,000 mark following a rally fueled by Donald Trump winning the Nov. 5 US presidential election.