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.

Suez Canal revenues decline up to 50% due to Red Sea tensions: Sisi at EGYPES 2024 - Egypt Independent

Egyptian President Abdel Fattah al-Sisi confirmed on Monday that Suez Canal revenues have fallen by between 40-50 percent due to tensions in the Red Sea as a result of Huthi attacks made in solidarity with Palestine. During the inauguration of Egypt Petroleum Show (EGYPES 2024) on Monday the at Al Manara International Conference Centre in New Cairo, Sisi said “the shipping corridor, which used to generate approximately US$10 billion annually, ha…

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.…