Red Sea crisis threatens Italian economic stability, warns Italy’s defense minister

By Giovanni Legorano

ROME (AA) - The ongoing Red Sea crisis threatens the country’s economic stability, Italy’s defense minister said Thursday.

“Not only does it threaten the safety of navigation, but also our economic stability,” Guido Crosetto told lawmakers on the Italian parliament’s Defense Committee.

“From a geopolitical perspective, the persisting situation could lead to a marginalization of Mediterranean ports, deepening the negative impacts on the global and European economies and, in particular on Italy’s.”

Yemeni Houthis have been targeting commercial vessels in the Red Sea, particularly those bound for Israel, since November. They say their attacks aim to put pressure on Israel to halt its deadly onslaught on the Gaza Strip, prompting the US and UK to launch retaliatory airstrikes on targets inside Yemen.

The Red Sea is one of the world's most frequently used sea routes for oil and fuel shipments.

On Wednesday, European countries agreed to launch a naval mission aimed at protecting Western ships crossing that stretch of sea.

Crosetto told lawmakers that the Red Sea represents a crucial maritime pathway connecting Asia to Europe, where around one-sixth of world trade, an important share of hydrocarbons, and 40% of Italian traded goods transit.

He added that the Red Sea has started to resemble a warzone, so that Europe must act with a mix of caution and determination.

​​​​​​​“Diplomatic efforts must go on together with military efforts, keeping channels of dialogue open with all actors who can exert some influence on the region,” he said.