Egypt says commercial routes that threaten Suez Canal will not affect revenues ...Saudi Arabia

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Wed, 2021-02-03 22:03 CAIRO: The Egyptian government has rejected rumors about the impact of the construction of commercial routes to compete with the Suez Canal on its foreign currency earnings. The Cabinet’s media center said it had contacted the Suez Canal Authority, which stressed that the foreign currency revenues of the Suez Canal have not been affected. The center confirmed that the reports of the Eilat-Ashkelon pipeline restarting the movement of oil trade through the canal are incorrect, explaining that the percentage of that impact will not exceed 12-16 percent of the volume of northbound oil trade. The authority said the canal route will remain the shortest and safest way t

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Last updated : 04 February 2021 clock 01:16 AM

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Egypt says commercial routes that threaten Suez Canal will not affect revenues ...Saudi Arabia

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