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Date: 06/11/2024

Egypt lost $6 bn due to traffic loss in the Suez Canal

Traffic loss through the Suez Canal due to the Houthi attacks has cost the Egyptian economy around $6 billion in the past year, said Egyptian Foreign Minister Mr Badr Abdel Aati, during a meeting with the Secretary-General of the International Maritime Organization, Mr Arsenio Dominguez. He emphasised the impact while reiterating the commitment to maintaining freedom of navigation in the vital seaway. This came as there was an online uproar after an Israeli warship was spotted transiting the Suez Canal over the weekend. Suez Canal Authority has stressed that the Canal shall always be free and open, in time of war and peace, to every vessel of commerce or of war, without distinction of nationality, as per a report.

Source: Exim News Service: Cairo, Nov. 5