Economy Another global choke point is under threat 3 weeks ago Financial News Iran has gained leverage over a new global choke point—the Bab al-Mandab strait. Its ally, the Houthi rebel militia, seized new territory on Yemen’s coast that borders the strait, through which roughly 12% of global trade traverses every day. Post navigation Previous The perils of repaying your student loan early | FT #shortsNext Fireside Chat – Michele Bullock Governor – Melbourne Uni 25 February 2026