Significant Losses for Saudi Arabia from the Closure of Bab al-Mandab

Significant Losses for Saudi Arabia from the Closure of Bab al-Mandab 🔺The Al Jazeera news network has reported on the vast losses incurred by Saudi Arabia as a result of the closure of the Bab al-Mandab Strait and the blockade of the country in the Red Sea. It states that this event coincides with the disruption occurring in shipping in the Strait of Hormuz due to the US aggression against Iran. 🔺Reuters estimated that a complete closure of the Bab al-Mandab route could reduce global oil supply by up to 7%; as in this case, most of Saudi Arabia's oil exports would not be able to exit the region through their current routes. 🔺According to the Kepler company, the alternative route to Bab al-Mandab via the Suez Canal could cause the demand for maritime transport to increase to about 3 times the current level. Furthermore, large oil tankers cannot pass through the Suez Canal at full capacity due to "water depth" restrictions.