– Center for International Maritime Security – The Suez Canal is one of the most militarized zones in the world due to its strategic importance, reflected in the Suez Crisis in 1956 and its closure from 1967–1975 during the Arab-Israeli wars. The passage through the Red Sea, the Suez Canal and the Strait of Bab el-Mandeb is considered to be the second most important waterway for global oil trade after the Strait of Hormuz. A blockade of the Suez Canal could have disastrous effects on the world economy.