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

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Egypt’s Suez Canal Revenue Plummet by 50%: Al Sisi
source : Egyptian Streets ( Egypt ) () 21
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.S and the U.K. have carried out airstrikes on  targets on Houthi targets in Yemen, with the Houthis retaliating by targeting American and British ships. As a result, Suez Canal traffic has been suffering. In January, Suez Canal Authority Chairman Osam

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