Suez Canal revenue has dropped by 50% amid growing tension in the Red Sea, Egypt\u2019s planning minister said on Sunday.
\n\u201cThe decline was caused by a disruption in shipping due to tension in the Red Sea,\u201d Hala El-Saeed said in a speech on the sidelines of the World Economic Forum in Riyadh, Saudi Arabia.
\nThe Suez Canal, a critical maritime route for global trade, is the shortest shipping route between Europe and Asia. It is one of the main sources of foreign currency for Egypt.
\nTransits through the international waterway were affected by tensions in the Red Sea amid Houthi attacks on Israeli-linked commercial ships and US retaliatory airstrikes.
\nTensions have escalated across the Middle East region amid a deadly Israeli offensive on the Gaza Strip, which has killed more than 34,400 people and injured thousands since an Oct. 7 Hamas attack, which killed nearly 1,200 people.
\nMore than six months into the Israeli war, vast swathes of Gaza lay in ruins, pushing 85% of the enclave\u2019s population into internal displacement amid a crippling blockade of food, clean water and medicine, according to the UN.
\nIsrael stands accused of genocide at the International Court of Justice. An interim ruling in January ordered Tel Aviv to stop genocidal acts and take measures to guarantee that humanitarian assistance is provided to civilians in Gaza.<\/p>\n","protected":false},"excerpt":{"rendered":"
Suez Canal revenue has dropped by 50% amid growing tension in the Red Sea, Egypt\u2019s planning minister said on Sunday. \u201cThe decline was caused by a disruption in shipping due to tension in the Red Sea,\u201d Hala El-Saeed said in a speech on the sidelines of the World Economic Forum in Riyadh, Saudi Arabia. The …<\/p>\n","protected":false},"author":3,"featured_media":20138,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-20137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international"],"_links":{"self":[{"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/posts\/20137","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/comments?post=20137"}],"version-history":[{"count":1,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/posts\/20137\/revisions"}],"predecessor-version":[{"id":20139,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/posts\/20137\/revisions\/20139"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/media\/20138"}],"wp:attachment":[{"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/media?parent=20137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/categories?post=20137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/tags?post=20137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}