Suez Canal suffers significant revenue loss of over 60 percent in the last 7 months: Sisi ...Egypt

The Suez Canal’s revenue has taken a significant hit over the past seven-eight months, due to Israel’s escalating war in the region and its consequences. President Abdel Fattah al-Sisi announced Sunday that these losses could reach between 50-60 percent of total receipts, potentially amounting to six billion dollars. Earlier in February, Sisi that Suez Canal revenues had 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 at the time that, “The shipping corridor, which used t

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