Suez Canal revenue cut by 40-50% due to Huthi attacks: Egyptian president Sisi

Egypt’s Sisi: Suez Canal revenue down as much as 50% over Red Sea attacks

The decrease in revenue and traffic in the canal due to attacks by Yemen’s Houthi rebels is exacerbating Egypt’s foreign currency shortage and overall economic crisis.

Houthi attacks cut Suez Canal revenue by 40-50%: Egyptian President

CAIRO: Egyptian President Abdel Fattah El-Sisi has said that revenues from the Suez Canal have “decreased by 40 to 50 percent” so far this year due to attacks on shipping by Yemen’s Houthi rebels, according to Agence France Presse. The canal is one of the main sources of foreign currency for Egypt which is gripped by a severe financial crisis. Since November, the Iran-backed

Egypt president says Houthi shipping attacks cut Suez Canal revenue by 40-50 percent

The post Egypt president says Houthi shipping attacks cut Suez Canal revenue by 40-50 percent appeared first on All Arab News.

Egypt’s Suez Canal Revenue Plummet by 50%: Al Sisi

President Abdel-Fattah Al-Sisi announced at the Egypt Energy Show (EGYPS 2024) that Suez Canal revenues have dropped by 40-50 percent this year compared to the year before, a shortfall the President attributed to Houthi attacks impacting Red Sea shipping, reported state media Al-Ahram. In recent weeks, rising tensions in the region between Western powers and Yemen’s Houthi rebels have intensified. Citing threats posed by the Houthis, both the U.…

Houthi Attacks Cut Suez Canal Revenue By 40-50%: Egypt President

Egyptian President Abdel Fattah al-Sisi said Monday that revenues from the Suez Canal had "decreased by 40 to 50 percent" so far this year due to attacks on shipping by Yemen's Huthi rebels. The canal is one of the main sources of foreign currency for Egypt which is gripped by a severe financial crisis. Since November, the Iran-backed Huthis have launched numerous attacks on vessels in the Gulf of Aden and Red Sea, which the group says are aimed…