According to foreign media reports, local time on February 26, the British Chamber of Commerce (BCC) released a report showing that the Red Sea tensions have a great impact on the British economy and society.

　　British Chamber of Commerce survey of more than 1,000 enterprises, 55% of the surveyed exporters said that the export business is affected by the Red Sea tensions. 53% of the British manufacturing enterprises and B2C service industry is affected.

　　The impact is mainly manifested in the following two aspects. First, transportation costs have risen significantly, with some companies reporting a 300% increase in their vessel charter costs. The second is the lengthening of supply times, by three to four weeks from the previous normal. In addition, businesses' cash flow and stock replenishment have been affected.

　　William Bain, head of trade policy at the British Chambers of Commerce, pointed out that the longer the status quo in the Red Sea lasts, the more pronounced its impact on the UK economy and society is likely to be. Red Sea tensions will further push up inflationary pressures in the UK. For British exporters, exports are in a difficult state due to insufficient external demand. The Red Sea tensions will further increase the difficulties for UK exporters. The British government needs to provide help to British exporters in next month's budget.

　　Tensions in the Red Sea have forced a number of international shipping companies to suspend the Suez Canal to the Red Sea route, bypassing the Cape of Good Hope in southern Africa. Businesses in most European countries report their supply chains are deteriorating, including major economies such as Germany, France and Italy. The survey showed that manufacturers in Greece, one of the EU countries closest to the Suez Canal, have been hit hardest.

　　European Commission Executive Vice-President Dombrovskis recently warned that instability in the Red Sea poses a risk to the EU's economic outlook, energy supplies and prices, and needs to be closely monitored.

　　According to international energy analyst Usama Rizvi, as Red Sea tensions continue, Europe is expected to face the risk of higher energy costs, delays in freight transportation, and the return of high inflation, leading to higher interest rates, all of which will bring many troubles to European consumers and businesses. Higher energy prices and supply chain disruptions could exacerbate the current economic concerns of European countries, meaning that tensions in the Red Sea could have serious consequences for Europe and the world as a whole.