China’s state-owned shipping giant COSCO will halt all operations in-and-out of Israel in response to the worsening security situation in the Red Seas, according to Israeli news site Globes.
Sunday’s announcement by the company is a major setback for the Jewish state, given how much it relies on trade with China and other Asian markets that COSCO serves.
COSCO, like other major shipping companies, said the risk of transiting through the Red Sea is just too high following dozens of attacks on container vessels by Houthi militants from Yemen.
Chinese diplomats at the UN and in Beijing renewed calls last week for a cessation of hostilities in the strategic Middle East waterway.
But neither Geng Shuang, China’s number two at the United Nations nor Foreign Ministry Spokesperson Wang Wenbin ever mentioned the Houthis by name when both denounced the “attacks against civilian vessels.”
That reluctance to single out militant groups in the Mideast is standard operating procedure for China as Beijing also refused to condemn Hamas for the October 7th attacks in southern Israel.
WHY IS THIS IMPORTANT? A lot of Israelis are perplexed by COSCO’s decision, given that it’s highly unlikely Iran-backed Houthi militants would target Chinese vessels. Nonetheless, the move is going to put considerable domestic pressure on Israeli Prime Minister Benjamin Netanyahu now that imported Chinese goods are to cost significantly more.
SUGGESTED READING:
- Globes: Chinese shipping giant COSCO stop visiting Israeli ports by Dean Shmuel Elmas
- China Daily: China concerned about Red Sea shipping attacks, envoy says by Minlu Zhang
