14 Hrs
Source:
النهار
Sisi affirms Gulf stability as a core Egypt policy
Egyptian President Abdel Fattah El Sisi confirmed that Egypt has lost around 20 billion dollars in Suez Canal revenues in recent years due to instability in the region. He warned of the impact this could have on maritime navigation and canal revenues. He emphasized that safeguarding freedom of navigation in maritime passages is a necessity, and supporting the security and stability of Arab countries, especially the Gulf states, remains a fundamental principle of Egyptian foreign policy. Sisi pointed out that Egypt's strategic choice is peace, and regional issues are addressed through diplomacy, with a firm assurance that this will not come at the expense of Egypt’s existence. These statements come amid ongoing regional challenges affecting maritime movement and Egypt’s economic losses, particularly after losing approximately 7 billion dollars in Suez Canal revenues in 2024 due to disturbances in the Red Sea.
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