Egypt loses around USD6B in Suez Canal revenue due to regional tensions
Date
9/30/2024 3:25:46 AM
(MENAFN) On Sunday, Leader Abdel Fattah al-Sisi stated that Egypt has lost around USD6 billion in Suez Canal income because of intensifying geopolitical pressures in the area.
Talking in a police graduation ceremony, Sisi noted that income of the global waterway had declined by 50 to 60 percent during the past eight months.
"We are keen on managing our affairs in a way that preserves our country and maintains stability in the region as much as possible, without getting involved in events that could affect security,” Sisi pointed out.
The Egyptian president cautioned that the present regional pressures might result in an enlargement of the war.
Regional tensions have worsened due to Israel’s cruel aggressive on the Gaza Strip, which has murdered around 41,600 people, mainly women and children, after an attack by the Palestinian resistance group Hamas on October 7, 2023.
The Suez Canal, which is a major pathway for international trade, is the shortest transport route connecting Europe with Asia. Also, it is one of Egypt's key sources of foreign currency.
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