Yemen operations cause mounting debts, complete paralysis of Israeli ports

ALQUDS, July 16 (YPA) – The Israeli economic website ” DeMarker” reported that the port of Umm al-Rashrash, known as Eilat, would completely cease operations starting next Sunday, after the city’s municipality froze its bank accounts due to the collected debts amounting to millions.

This development came amid a near-total paralysis that the port had been experiencing since November 2023, as a result of the naval blockade imposed by the Sanaa-based armed forces on ships bound for “Israel”.

The Yemeni operations have led to a significant decline in the port revenues and a collapse in commercial activity, in addition to the port being subjected to continuous attacks.

The port’s debts have reached levels beyond its ability to repay, prompting local authorities in Umm al-Rashrash to take legal action to seize the accounts.

The port is a vital Israeli port and represents Israel’s only sea outlet on the Red Sea. It’s revenues had collapsed by 80% in 2024, after ships stopped docking there due to the Yemeni blockade imposed in support of the Gaza Strip.

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