Wael Sawan, Shell’s chief executive, says in an interview with WSJ’s Jenny Strasburg at Davos that the company’s decision today to suspend shipping in the Red Sea is affecting costs.
British oil major Shell suspended all shipments through the Red Sea after U.S. and U.K. strikes on Yemen’s Houthi rebels triggered fears of further escalation, according to people familiar with the decision.
The West’s targeting of the Iranian-ally militia came after the Houthis launched dozens of missiles and drones at commercial vessels around the Red Sea and the nearby Bab el-Mandeb.
The militia has said the attacks are in response to an Israeli offensive in the Gaza Strip.
Persons:
Wael Sawan, WSJ’s Jenny Strasburg, Yemen’s, Bab
Organizations:
Shell
Locations:
Davos, Bab el, Gaza