Oslo: Global trade is facing pressure on two fronts as Norway considers new restrictions on Israeli settlement trade while Qatar warns that losing access to the Bab al Mandab Strait could have consequences worldwide.
Norway has proposed legislation that would prohibit imports from Israeli settlements in the occupied Palestinian territories and exports to those settlements.
The proposal would also restrict certain property and construction services linked directly to the settlements. It remains under public consultation, with the deadline set for 19 September.
Norway’s Foreign Minister Espen Barth Eide has said intentional violations could carry penalties of up to three years in prison. The proposal has drawn criticism from Israeli officials, while the Norwegian government says it aims to prevent Norwegian businesses from supporting settlement activity.
At the same time, Qatar has warned that a closure of the Bab al Mandab Strait could deepen existing disruption to international shipping.
The narrow waterway connects the Red Sea with the Gulf of Aden and forms a key link for vessels travelling between Asia and Europe through the Suez Canal.
Qatar’s Foreign Ministry said another major shipping disruption, while the Strait of Hormuz remains affected, could be “catastrophic” for the world.
The warning follows recent advances by Houthi forces along Yemen’s Red Sea coast. Reuters reported that the group had taken control of Perim Island near the strait, increasing pressure on a route already facing security risks.
For businesses, the effects can extend beyond the immediate conflict zones. Ships forced to avoid the Red Sea can take longer routes around Africa, increasing journey times, fuel use and freight costs.
