Sisi says regional issues cost Egypt around $7bn of Suez revenues
Egypt’s president Abdel Fattah el-Sisi said on December 26th that events in the Red Sea and regional challenges cost his country around $7 billion in revenues from the Suez Canal in 2024, according to Reuters.
He added that Egypt lost more than 60% of the canal’s revenues in 2024 compared with 2023, without elaborating on the events he was referencing.
The Ansar Allah group in Yemen, known as the Houthis, have carried out almost 100 attacks on ships crossing the Red Sea since November in solidarity with Palestinians in Gaza, forcing shipping firms to divert vessels to longer routes around Africa and disrupting global trade.
Reuters
