Sky News published this video item, entitled “How conflict in the Red Sea is affecting global trade | Israel-Hamas war” – below is their description.
Some companies are experiencing stock shortages due to the conflict in the Red Sea.
Attacks by Iran-backed Houthi rebels on Western ships are forcing companies to find safer alternative routes.
But those routes are often several thousands miles longer than the Red Sea route and can add 10 days to a journey time.
And with 15% of global shipping using the channel between Iran and Saudi Arabia, that is having a knock-on effect for high street brands such as Ikea and Next.
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About This Source - Sky News
Sky News is a British free-to-air television news channel and organisation. Sky News is distributed via a radio news service, and through online channels. It is owned by Sky Group, a division of Comcast. John Ryley is the head of Sky News, a role he has held since June 2006.
Iran, also called Persia, officially the Islamic Republic of Iran, is a country in Western Asia. Its central location in Eurasia and proximity to the Strait of Hormuz give it significant geostrategic importance. Tehran is the capital and largest city.
Iran is home to one of the world’s oldest civilizations, beginning with the formation of the Elamite kingdoms in the fourth millennium BC. The Iranian Revolution established the current Islamic Republic in 1979.
Iran’s political system combines elements of a presidential democracy and an Islamic theocracy. Iran is a founding member of the UN, ECO, OIC, and OPEC. It is a major regional and middle power and has large reserves of fossil fuels — including the world’s largest natural gas supply and the third largest proven oil reserves.
The country’s rich cultural legacy is reflected in part by its 22 UNESCO World Heritage Sites. Historically a multi-ethnic country, Iran remains a pluralistic society comprising numerous ethnic, linguistic, and religious groups, the largest being Persians, Azeris, Kurds, Mazandaranis and Lurs.
Israel, a Middle Eastern country on the Mediterranean Sea, is regarded by Jews, Christians and Muslims as the biblical Holy Land. Its most sacred sites are in Jerusalem. Within its Old City, the Temple Mount complex includes the Dome of the Rock shrine, the historic Western Wall, Al-Aqsa Mosque and the Church of the Holy Sepulchre. Israel’s financial hub, Tel Aviv, is known for its Bauhaus architecture and beaches.
Saudi Arabia, officially the Kingdom of Saudi Arabia, is a country in Western Asia constituting the bulk of the Arabian Peninsula.
Saudi Arabia also has one of the world’s youngest populations, with approximately 50 percent of its population of 34.2 million being under 25 years old.
