According to CoinMeta, due to attacks by Houthi militants that have sparked new concerns about an economic disaster, the European Union (EU) is urging countries to reassign ships that were committed to supporting the stalled operations in the Strait of Hormuz to the Red Sea. EU High Representative for Foreign Affairs and Security Policy Josep Borel said ahead of a meeting of EU defense ministers on Monday, "The need is more urgent than ever. We have received many requests for escort missions, but we need naval forces capable of carrying them out." Recently, Houthi militants have made progress in Yemen and attacked Saudi Arabia's energy infrastructure, exacerbating concerns about further disruptions to fuel supplies. However, so far, EU countries have still refused to strengthen their "Shield" escort operations in the Red Sea. Borel stated that member states could utilize resources that have been committed to but not yet deployed for this purpose; these resources were originally intended for an "voluntary alliance" that has not yet been formally established to operate in the waters of the Strait of Hormuz.