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Red Sea crisis costs Italy 95 million per day

Red Sea crisis costs Italy 95 million per day

the Red Sea crisis As commercial ships crossing the Bab al-Mandab Strait, to or from the Suez Canal, are at risk of being attacked by Houthi rebels in Yemen, a draft law is already being introduced for Italian trade. It is a “huge” bill: every day 95 million missing. second ConvertigianatoThis is the amount of damage accumulated between November 2023 and January 2024 due to the crisis, totaling 8.8 billion.

In the last three months it has lost 35 million daily due to failed or delayed exports

In the past three months alone, Italy has lost 3.3 billion (35 million per day) due to failed or delayed exports and 5.5 billion (60 million per day) due to a shortage in supply of industrial products. Convartiganato calculated the impact of the decline in merchant ship traffic between the Indian Ocean and the Red Sea on Italian trade flows with Asia, Oceania, the Persian Gulf states and Southeast Africa. The impact on exports for each Italian region is also being studied: the highest value of products transported by sea via the Red Sea is Lombardy, equivalent to 12.9 billion, followed by Emilia Romagna with 9.4 billion and Veneto with 5.7 billion. Tuscany has 4.7 billion, Piedmont has 4.2 billion, and Friuli-Venezia Giulia has 2 billion.

We must remember that about 12% of international maritime trade passes through Suez.

European mission

Figures make us understand why Italy is supported by France and Germany on the occasion European Union Foreign Affairs Council Which took place on Monday in Brussels strongly prompted this European mission To protect the movement of trade. The process will be named “Aspides”. At last Monday's summit, as explained by Josep Borrell, the High Representative of the European Union for Foreign Affairs and Security Policy, it was agreed to launch the European Union mission in the Red Sea. He added: “Now, we must work to reach a consensus on the exact date for that,” stressing that we want to complete the process of starting the operation as soon as possible. The European Union is expected to get the official green light on February 19, during the next Council meeting. The rules of engagement will be the subject of technical work for the Political-Military Group (Pmg) in Brussels, and subsequently for the Political and Security Committee (COPs). Italy will certainly send a frigate, which could be a frigate with a rotation.

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Tajani, we have a duty to protect our merchant ships

From Israel, where the Foreign Minister was on mission Antonio Tajani He explained that the goal of the military mission is to ensure freedom of maritime transportation from the Strait of Suez to the Strait of Hormuz. “We are committed, together with other EU countries, to building a new mission and there will certainly be Italian military ships to protect our commercial ships,” he said. He added, “Italy relies heavily on exports, and it is our duty to protect these boats with naval ships prepared to use weapons in the event of attacks that might endanger our commercial ships.”