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(Bloomberg) -- The Houthis said they will stop attacking US and UK vessels in the Red Sea area in response to the Israel-Hamas ceasefire agreement, following a more than year-long campaign that’s upended global trade.

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Ships belonging to US and UK individuals or entities — and those sailing under their flags — are no longer subject to sanctions as of Jan. 19, according to an email from the rebel group, forwarded by the shipping trade organization BIMCO. The Houthis have previously emailed shipping companies, according to a United Nations report.

Houthi attacks have upended global trade for more than a year, with many shippers heading round Africa — via the Cape of Good Hope — to avoid the threat. While this latest announcement is a step toward normalization, it’s unlikely to result in an immediate, mass return to the Red Sea trade route.

“Assuming the ceasefire holds and the US also refrains from using force, shipping companies are expected to gradually resume operations through the Red Sea,” said Jakob Larsen, chief safety & security officer at BIMCO. “Tramp vessels are likely to be among the first, while liner shipping companies will follow, depending on how quickly they can reorganize their route networks to accommodate the new reality.”

Ships wholly owned by Israeli individuals or entities, or sailing under the Israeli flag, remain banned from transiting the Red Sea, Bab-el-Mandeb, the Gulf of Aden, the Arabian Sea and the Indian Ocean, according to the email from the Humanitarian Operations Coordination Center in Yemen.

The Houthis also warned that any aggression against Yemen by the US, UK or Israel would result in sanctions being reinstated.

For more details on the Houthi announcement, see: Houthis Call Halt to Attacks on US and UK Ships: BIMCO

--With assistance from Dana Khraiche and Alex Longley.

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