US announces international mission to protect commercial vessels in Red Sea
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00:00 This really is something we've been keeping an eye on ever since those first attacks by the Houthi rebels a couple of weeks ago.
00:06 We heard that there could be some form of task force formed and now it appears that has come to fruition.
00:12 The way it's happening is it's been bolted on the responsibility for the Red Sea to a pre-existing fleet which is run by the 5th Fleet,
00:20 the US Naval Fleet there which is based out of Bahrain.
00:23 This now adding to their responsibilities.
00:26 They've gone into partnership with numerous other allies which includes the United Kingdom, Bahrain, Canada, France, Italy,
00:33 the Netherlands, Norway, the Seychelles and Spain.
00:36 This operation now being called Operation Prosperity Guardian and it is being dubbed a multinational security initiative.
00:45 Lloyd Austin says that in the Red Sea we're leading a multinational maritime task force to uphold the bedrock principle of freedom of navigation
00:52 and said that Iran's support for Houthi attacks on commercial vessels must stop.
00:57 The Houthis for their part, speaking to Al Jazeera on Monday, said that they are ready to confront any task force that comes before them.
01:05 The US say that the goal that they have with this task force is to ensure freedom of navigation but also to bolster regional security and prosperity as well.
01:14 Lloyd Austin is holding this meeting on Tuesday with regional allies and those further afield to discuss the situation.
01:21 We know that Denmark had been floated as one of the names who could potentially join this task force so something to watch there whether that will come to fruition.
01:29 But the fallout and the impacts of these attacks on the Red Sea cannot be understated.
01:34 Around 15% of the world's shipping commerce goes through the Red Sea and through the Suez Canal.
01:40 So if other big companies pull their ships out of the area as some have already, MSC, Maersk and BP as well,
01:49 then we could see increased delays on shipping but also an increase in prices for consumer goods as well as things like petroleum in Europe.