Live Update 
From the Liveblog of
Monday, February 19, 2024
From the Liveblog of
Monday, February 19, 2024
Egypt’s Sissi says revenues from Suez Canal have dropped 40%-50% over Houthi attacks
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In this image obtained from the US Department of Defense, the amphibious assault ship USS Bataan transits through the Suez Canal, Egypt, on August, 6, 2023. (Moises Sandoval / US Department of Defense / AFP)
Egyptian President Abdel Fattah al-Sissi says revenues from the Suez Canal have “decreased by 40 to 50 percent” so far this year due to attacks on shipping by Yemen’s Houthi rebels.
The canal is one of Egypt’s main sources of foreign currency, with Cairo gripped by a severe financial crisis.
The Houthi attacks, which the group says are targeted at vessels with links to Israel in solidarity with the Palestinians in the war-torn Gaza Strip, have caused many major shipping firms to suspend passage through the Red Sea, which usually carries around 12 percent of global trade.
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