CAIRO: Events in the Red Sea and regional challenges cost Egypt around $7 billion in revenues from the Suez Canal in 2024, Egyptian President Abdel Fattah El-Sisi said on Thursday.
Egypt lost more than 60 percent of the canal’s revenues in 2024 compared with 2023, El-Sisi added in his statement, without going into details on the events.
Houthi fighters in Yemen have carried out nearly 100 attacks on ships crossing the Red Sea since November in solidarity with Palestinians in Israel’s more than year-old war in Gaza.
The attacks have forced shipping firms to divert vessels from the Suez Canal to longer routes around Africa, disrupting global trade by delaying deliveries and sending costs higher.
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Regional challenges cost Egypt around $7 bln of Suez Canal revenues in 2024, El-Sisi says
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Regional challenges cost Egypt around $7 bln of Suez Canal revenues in 2024, El-Sisi says
- Egypt lost more than 60 percent of the canal’s revenues in 2024 compared with 2023, El-Sisi said
Gaza fuel running short after Israel closes borders amid Iran war
CAIRO/JERUSALEM: Gaza is rapidly running out of its limited fuel supply and stocks of food staples may become tight, officials say, after Israel blocked the entry of fuel and goods into the war-shattered territory, citing fighting with Iran.
Israel’s military closed all Gaza border crossings on Saturday after announcing air strikes on Iran carried out jointly with the United States. Israeli authorities say the crossings cannot be operated safely during war and have not said how long they would be shut.
Few days’ worth of supplies
Gaza is wholly dependent on fuel brought in by trucks from Israel and Egypt and a lack of fresh supplies would put hospital operations at risk and threaten water and sanitation services, local officials say. Most Palestinians in Gaza are internally displaced after Israel’s two-year war with Hamas militants.
“I expect we have maybe a couple of days’ running time,” said United Nations official Karuna Herrmann, who directs fuel distribution in Gaza.
Amjad Al-Shawa, a Palestinian aid leader in Gaza, who works with the UN and NGOs, estimated fuel supplies could last three or four days, while stocks of vegetables, flour, and other essentials could also soon run out if the crossings remain shut.
Reuters was unable to independently verify those estimates.
Israel’s COGAT military agency, which controls access to Gaza, said that enough food had been delivered to the territory since the start of an October truce to provide for the population.
“(The) existing stock is expected to suffice for an extended period,” COGAT said, without elaborating. It declined to comment on potential fuel shortages.
The truce was part of broader US-backed plan to end the war that involves reopening the Rafah border crossing with Egypt, increasing the flow of aid into the enclave, and rebuilding it.
Hamada Abu Laila, a displaced Palestinian in Gaza, said the closures were stoking fear of a return of famine, which gripped parts of the enclave last year after Israel blocked aid deliveries for 11 weeks.
“Why is it our fault, in Gaza, with regional wars between Israel, Iran, and America? It is not our fault,” Abu Laila said.
Israel’s military closed all Gaza border crossings on Saturday after announcing air strikes on Iran carried out jointly with the United States. Israeli authorities say the crossings cannot be operated safely during war and have not said how long they would be shut.
Few days’ worth of supplies
Gaza is wholly dependent on fuel brought in by trucks from Israel and Egypt and a lack of fresh supplies would put hospital operations at risk and threaten water and sanitation services, local officials say. Most Palestinians in Gaza are internally displaced after Israel’s two-year war with Hamas militants.
“I expect we have maybe a couple of days’ running time,” said United Nations official Karuna Herrmann, who directs fuel distribution in Gaza.
Amjad Al-Shawa, a Palestinian aid leader in Gaza, who works with the UN and NGOs, estimated fuel supplies could last three or four days, while stocks of vegetables, flour, and other essentials could also soon run out if the crossings remain shut.
Reuters was unable to independently verify those estimates.
Israel’s COGAT military agency, which controls access to Gaza, said that enough food had been delivered to the territory since the start of an October truce to provide for the population.
“(The) existing stock is expected to suffice for an extended period,” COGAT said, without elaborating. It declined to comment on potential fuel shortages.
The truce was part of broader US-backed plan to end the war that involves reopening the Rafah border crossing with Egypt, increasing the flow of aid into the enclave, and rebuilding it.
Hamada Abu Laila, a displaced Palestinian in Gaza, said the closures were stoking fear of a return of famine, which gripped parts of the enclave last year after Israel blocked aid deliveries for 11 weeks.
“Why is it our fault, in Gaza, with regional wars between Israel, Iran, and America? It is not our fault,” Abu Laila said.
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