Egypt Loses $8 Billion in Suez Canal Revenues Amid Regional Tensions ...Egypt

Egyptian Streets - News
Egypt Loses $8 Billion in Suez Canal Revenues Amid Regional Tensions
source : Egyptian Streets ( Egypt ) () 90
Egypt’s Minister of Foreign Affairs Badr Abdelatty announced during the Rome MED-Mediterranean Dialogues conference on Wednesday, 20 November, that the Suez Canal revenues have fallen by USD 8 billion (EGP 396.78 billion) since Israel’s war on Gaza began. Abdelatty attributed the decline to ongoing geopolitical tensions in the region. Repeated Houthi-led attacks near Bab El-Mandeb Strait, aimed at pressuring Israel into halting its Gaza offensive, have further disrupted navigation routes, directly impacting Suez Canal traffic.  He added that the decline translates to a monthly loss exceeding USD 600 million (EGP 29.76 billion), noting that Egypt remains one of the most affected countries due

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