INTRODUCTION Contributed by: Yoav Harris, John Harris (1940-2023) and Domiana Abboud, Harris & Co Maritime Law Office
Harris & Co Maritime Law Office 16 Pal-Yam St, 5th Fl Haifa 330952 Israel
Tel: +972 54 420 2951 Fax: +927 04 874 4040 Email: yoavh@maritime-law.co.il Web: www.lawships.com
Steps Towards Stability in the Middle East The Middle East is experiencing a moment of calm as a ceasefire deal was reached between Israel and Lebanon on 27 November 2024, halt - ing the war between Israel and Hezbollah. Within the deal, and without precluding both parties’ right to self-defence, Lebanon and Israel agreed inter alia to commit to United Nations Security Council Resolution (UNSCR) No 1701, with Hez - bollah withdrawing and dismantling all military facilities and infrastructure starting in the south - ern part of Litani River, and with Israel withdraw - ing over a period of up to 60 days. On 16 January 2025, a ceasefire and hostage deal between Israel and Hamas was announced, halting the conflict that began on 7 October 2023 when Hamas initiated attacks leading to the murder of 1,200 people and the kidnapping of nearly 200 others. Meanwhile, on 8 December 2024, the al-Assad regime fell in Syria nearly 14 years after the Syr - ian Civil War started. Collectively, these events have resulted in a diminishment of the presence in the region of Hezbollah’s and al-Assad’s key ally, Iran, paving the way for possible long-last - ing regional stability.
Economic Implications of the Houthi Attacks on the Suez Canal The Houthis from Yemen are the only group continuing – and extending – their attacks against Israel, hijacking MV Galaxy Leader on 19 November 2023 while it was navigating in the Bab-al-Mandeb Strait in the Red Sea and violat - ing the right to innocent passage and naviga - tion, as guaranteed under the UN Convention on the Law of the Sea (UNCLOS), constituting acts of piracy as defined in UNCLOS (Articles 101 and 102). Significant attacks were launched by the United States, United Kingdom and Israel, backed by their allies, who no longer tolerate the Houthis’ missile interception and are intensify - ing targeted attacks Yemen including in Sana’a, launching multiple precision strikes against Houthi facilities and weapons. Besides the total shutdown of Israel’s Eilat port, no significant harm was caused to Israel’s ship - ping trade industry as a result of the Houthi attacks. The Suez Canal seems to have suf - fered most, with a remarkable loss of revenue seen in association with vessels diverting to the longer route around Africa to prevent the risk of a Houthi attack. According to a statement from the head of the Suez Canal Authority, Osama Rabie,
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