An unreleased UN report suggested that the Houthi rebels have figured out a way to monetize their blockade of the Red Sea.
According to insiders, the militia runs a multibillion-dollar tolling operation on the strategic waterway, taking covert payments from shipowners in exchange for the permission to pass securely.
While some analysts attribute the seemingly random nature of Houthi attacks to poor targeting, the UN panel's report suggests a more sinister motive: financial gain. The panel alleges that Houthi forces are extorting fees from shipowners in exchange for safe passage through the Red Sea. This implies that ships that refuse to pay may be targeted, effectively turning the Red Sea into a perilous waterway.
The sources estimate the Houthis’ earnings from these illegal safe-transit fees to be about $180 million per month, or $2 billion per year.