AGP Executive Report
Last update: 2 hours agoRed Sea Security & Trade: Saudi Arabia moved fast to formalize a multinational maritime defence coalition after Houthis threatened shipping and Saudi oil exports around Bab el-Mandeb, the Red Sea and the Gulf of Aden; Riyadh hosted talks with chiefs of staff from 43 countries plus the EU, and 14 states backed the joint statement—explicitly calling the alliance defensive and open to others, with Djibouti named among founding supporters. Djibouti’s Position: Djibouti also rejected any unilateral plan to impose transit fees or taxes on vessels using Bab el-Mandeb, warning it would breach international law and disrupt a key global route. Oil Markets: Oil prices slipped on Friday but stayed on track for roughly a fifth monthly gain as more crude moved through major chokepoints, easing some supply fears even as US-Iran tensions continued. Somalia Peace Mission Funding: In parallel, regional leaders pushed to keep AUSSOM running as UN logistical support is set to end by end-2026, with Uganda’s Museveni assuring Somalia of continued backing ahead of the summit in Entebbe.
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