The Council on Foreign Relations published on 8 October 2026 a background piece titled "Another Hormuz? What to Know About the Houthi Threat to the Red Sea" by Diana Roy.
Each year, approximately 12 to 15 percent of global maritime trade worth more than $1 trillion, including 30 percent of global container traffic transits the Red Sea. This is an excellent summary of the threat posed by the Iran-backed and Yemen-based Houthis to international shipping through the Red Sea.