The US military's Central Command said it had seized a vessel carrying Iranian-made missile components bound for Yemen's Houthis in the Arabian Sea. AP
The US military's Central Command said it had seized a vessel carrying Iranian-made missile components bound for Yemen's Houthis in the Arabian Sea. AP
The US military's Central Command said it had seized a vessel carrying Iranian-made missile components bound for Yemen's Houthis in the Arabian Sea. AP
The US military's Central Command said it had seized a vessel carrying Iranian-made missile components bound for Yemen's Houthis in the Arabian Sea. AP

Yemen's Houthis claim strike on Greek ship headed to Israel


Amr Mostafa
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Yemen's Houthis have claimed a “direct hit” on a Greek-owned commercial vessel heading to Israel through the Red Sea on Tuesday.

The Houthis “carried out a targeted operation against the ship … after its crew refused the calls from the naval forces, as well as repeated fiery warning messages”, militia spokesman Yahya Sarea said.

The Maltese-flagged, Greek-owned bulk carrier MT Zografia sustained material damage, but there were no injuries after it was hit near the Yemeni Red Sea port of Saleef, a security firm and two sources within the Greek shipping ministry said.

The US military confirmed the Houthis launched the attack.

"M/V Zografia, a Maltese-flagged bulk carrier reported they were struck but seaworthy and were continuing their Red Sea transit," the US Central Command (Centcom) said in a statement, adding that no injuries were reported.

Earlier in the day, British maritime security company Ambrey said the vessel was hit with a missile in the Red Sea, 140km north-west of Yemen's port city of Saleef.

The vessel was sailing without cargo from Vietnam to Israel and no one was injured in the attack, one of the Greek shipping ministry sources said.

The attack came on the same day that US forces struck several Houthi targets.

US forces destroyed four Houthi missile launchers in Yemen early on Tuesday, a US defence official confirmed.

The launchers were deemed to be an imminent threat to “commercial and US forces’ vessels in the area”, the official told The National.

The strike was considered successful, the official added, confirming an earlier report by Reuters.

The Iran-backed Houthis have increased attacks on vessels in the Red Sea, affecting a vital shipping route.

The Houthis, who control most of Yemen's Red Sea coast, have claimed that their attacks on commercial ships are in support of Palestinians amid the Israel-Gaza war, and that the vessels they have attacked have all been linked to Israel.

They have pledged to expand the scope of their targets in the Red Sea region to include US ships, and to keep up attacks after US and British forces carried out dozens of air strikes last week against the Houthis' radar and missile capabilities.

In response, some shipping companies have instructed vessels to instead sail round southern Africa, a slower and therefore more expensive route.

The Houthi attack on the MT Zografia is the second missile strike on a commercial vessel in two days, one of nearly 30 Houthi assaults on shipping in the Red Sea and Gulf of Aden since October.

It comes as Centcom, the US military headquarters in the Middle East, gave details of a Navy Seals special forces mission on January 11 that captured an array of Houthi weapons from a dhow heading to Yemen.

Centcom said two Navy Seals went missing during the operation.

It also described seizing a cache of missile guidance systems and motors for medium-range ballistic missiles, as well as anti-air defence equipment, which it said confirmed Iran's role in supporting the militia.

“We are conducting an exhaustive search for our missing teammates,” said Gen Michael Kurilla, US Centcom Commander.

“It is clear that Iran continues shipment of advanced lethal aid to the Houthis. This is yet another example of how Iran actively sows instability throughout the region in direct violation of U.N Security Resolution 2216 and International law,” he added.

Conflict in the Red Sea

The US and Britain launched air strikes on Houthi military positions across Yemen last week, pledging to protect free navigation in the Red Sea, while simultaneously risking further escalation in the region as the Israel-Gaza war rages on.

The targets included weapon depots, radar sites and command centres, including those in remote mountain areas, the US said.

The American military on Friday evening said it had conducted a “follow-on” strike on a Houthi radar site.

The US Navy warned American-flagged vessels to steer clear of areas around Yemen in the Red Sea and the Gulf of Aden for at least 72 hours after the initial air strikes.

The Iran-backed rebels, who control the capital Sanaa, in northern Yemen and parts of the Red Sea coast, said five of its members were killed in the “barbaric” strikes.

On Sunday, US fighter planes shot down a cruise missile fired by the Houthis at one of its warships in the Red Sea, in the first such attack since US and UK missiles struck the Iran-backed group.

On Tuesday, a Houthi spokesman said the announcement by a number of shipping companies to suspend operations, citing the high risk of traversing the Red Sea, was the result of US pressure.

In a statement, Mohammed Abdulsalam said their claims of high risk were inaccurate and “only matches with the US propaganda”.

“There are hundreds of ships crossing Bab Al Mandeb every day,” he said.

He reaffirmed his group's position that there is no ban on any ship except those linked to Israel or heading to Israeli ports.

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Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

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