Brussels, Jan 15 (EFE).- European Commissioner for Economy Paolo Gentiloni called on Monday to monitor Houthi attacks on the Red Sea, as they may begin to impact the European economy, particularly energy prices and inflation.

Speaking to the press upon his arrival at the Eurogroup meeting, Gentiloni noted the “increasing concern on the downside risks caused by geopolitical tensions, and especially what is happening in the Red Sea,” one of the world’s most important trade routes.

According to Gentiloni for now there aren’t consequences on energy prices and inflation, but he considered that the situation “should be monitored very closely because these consequences could materialize in the coming weeks.”

Since mid-December, Yemen’s Houthi rebels have disrupted trade in the Red Sea by attacking ships they claim are linked to Israel, in response to Israel’s military intervention in the Gaza Strip.

Houthi attacks on commercial vessels prompted the US and UK to conduct bombing raids against the Yemeni group.

“We are doing a detailed and continuous monitoring and it will certainly be part of the talks this afternoon because of its possible impact on Spain and the rest of European countries,” Minister for Economy, Trade and Companies of Spain, Carlos Cuerpo said.

In an interview with the press upon his arrival at the meeting, Cuerpo said that the European partners are “very aware that this is an important element” and that “we have to be very aware of its possible impact,” both from a macroeconomic and price perspective. EFE

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