Wednesday, 8 April 2026: The Economic Track of the National Peace Movement (NPM) organised a high-level virtual seminar titled “The Repercussions of the Ongoing War in the Middle East and Its Political and Economic Implications for the Region and Yemen,” amid escalating regional and international tensions.
The seminar hosted prominent Egyptian parliamentarian and media figure Mostafa Bakry, who offered an analytical reading of the rapidly evolving regional landscape. At the outset of his remarks, Bakry said the region is passing through a critical historical moment that goes beyond a mere redistribution of influence to a redefinition of the very concept of power.
Moderated by Rafat Al-Akhali, economist and member of NPMs Board of Trustees, the seminar focused on the implications of the escalation for international trade, energy security, and the stability of maritime corridors. Bakry noted that the region is undergoing profound shifts under the current tensions, which could negatively affect fragile economies, particularly Yemen’s, through rising transport and insurance costs and disruptions to supply chains. At the same time, he pointed to potential opportunities that may emerge from the reshaping of global trade routes, stressing that economic considerations will play a decisive role in shaping alliances in the coming phase.
Bakry also warned of the consequences of any escalation affecting maritime routes, noting that Egypt lost around $12 billion over the course of a year and a half during the recent Red Sea crisis. He said Cairo therefore views any closure of the Bab al-Mandab Strait as a result of the current war as a development with serious consequences, not only for Egypt’s domestic situation, but also for the further militarisation of the Red Sea.
In his analysis of the international dimensions of the crisis, Bakry linked the current conflict to what he described as a US effort to contain China’s anticipated economic rise by 2030. He argued that control over oil sources and shipping lanes is aimed primarily at influencing the political and economic decisions of countries on which China depends, particularly after Iran moved towards adopting the Chinese currency in oil transactions.
The seminar also brought together a number of researchers and interested participants, who contributed interventions on the impact of regional escalation on the prices of essential commodities, the security of maritime navigation, and the implications for living conditions in Yemen and across the region. Dr Fawziya Nasher, a member of the NPM’s economic Track, stressed the importance of addressing ongoing regional transformations through an integrated economic and political lens. The seminar forms part of the NPM’s efforts to strengthen dialogue on strategic issues and create space for responsible discussion of economic and political challenges in ways that support stability and help build sustainable peace.