The Houthis, an Iranian-supported group from Yemen, are targeting vessels they associate with Israel as a reprisal for the Israel-Hamas conflict, risking severe economic disruptions. U.S. Defense Secretary Lloyd Austin warns these attacks could continue to threaten commerce if not addressed globally.

The "Operation Prosperity Guardian" initiative includes countries like the U.K., Bahrain, Canada, and others, although Spain has opted out unless acting through NATO or the EU. The Houthis have threatened to persist in their attacks unless the situation in Gaza is addressed to their satisfaction.

Key points about the crisis:

1. The Houthis, linked to Iran, have escalated their maritime assaults, disrupting global trade and compelling major shipping companies to divert their routes, which increases costs and delays.

2. The Red Sea's strategic importance stems from its link between the Suez Canal and major global trade routes, carrying significant portions of the world's trade, oil, and gas. Closure of this route necessitates costly detours.

3. Western nations, under U.S. leadership, are deploying advanced naval assets to protect commercial shipping against drone and missile attacks.

4. Countries including the U.K. and Italy are participating, while France expresses interest in intelligence-sharing. Spain's participation hinges on collective EU or NATO action.

5. Some Middle Eastern nations are hesitant to join the coalition.

6. The Red Sea attacks could inflate global trade costs, affecting consumer prices and energy markets. However, trade flows have not yet faced a total disruption.

7. The rising challenge includes combating inexpensive drones with costly military hardware, prompting calls for shared defense efforts against the Houthi threat.