Yemen’s Information Minister has revealed that the Houthi movement, with the assistance of Iran’s Islamic Revolutionary Guard Corps (IRGC), is planning to implement a toll system in the Bab el-Mandeb Strait. This strategic waterway connects the Red Sea to the Gulf of Aden and is crucial for global maritime traffic. The involvement of IRGC advisers in designing this toll system suggests a parallel to Iran’s approach in the Strait of Hormuz. Market pricing indicates a rise in the perceived likelihood of Iran imposing Hormuz fees, with odds increasing from 24% to 29% over the past 24 hours. This collaboration between the Houthis and IRGC may indicate a broader strategy by Iran to exert control over key maritime chokepoints.
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