Port of Eilat Goes Bankrupt

• CrossFireArabia
• July 4, 2024

Israel’s southern Port of Eilat has declared bankruptcy because of the lack of commercial and trade activity.

Eilat Port CEO Gideon Golber said: “The port is completely closed, and there has been no activity in the port for eight months, due to the failure of the coalition countries in the Red Sea. We have not had any income for the last months, and it is time for the state to put its hand in its pocket and understand that the closed port must be helped.”

The Houthis are being blamed for this as  they have stopped ships bound for the Israeli port through the crucial bab Al Mandeb straits which controls about 10 percent of world shipping. 

The Houthis are targeting any ship that is going to Israel and as a result many of these vassals have switched to a much longer route going through the Cape of Good Hope. 

One blogger says “the Zionist economy has taken a huge hit. The Port of Eilat has declared bankruptcy. I hope it’s the first of many bankruptcies to come. Great work by AnsarAllah and Yemen.”

The tourism city of Eilat has taken a great beating since 7 October when its tourism and trade completely stopped with many people losing their jobs.  

The bankruptcy issue is trending on X, with a comment being made that the “Houthis have achieved one of their economic goals against the “genocidal Israel” especially since the Port of Eilat services ships going through the Red Sea.

But the enforced naval blockade is achieving its goals. The port came to a halt by December 2023 losing 85 percent of its trade because of attacks on its naval shipping by the Yemen armed forces.

The port’s management is calling for financial assistance from the Israeli government but it is doubtful whether they will get it because of the economic dire straits the government is in because of the mass expenditure on the Gaza war.