Live Update 
From the Liveblog of
Monday, April 7, 2025
From the Liveblog of
Monday, April 7, 2025
Sissi says Egypt lost $7 billion in 2024 due to Houthi attacks in the Red Sea amid the war in Gaza
Add ToI as a Preferred Source on GoogleNurit Yohanan is The Times of Israel's Palestinian and Arab world correspondent
Egypt's President Abdel-Fattah el-Sissi speaks during a press conference after his meeting with the French president at the Presidential Palace in Cairo, Egypt, on April 7, 2025. (Ludovic Marin/Pool/AFP)
Egyptian President Abdel-Fattah el-Sissi states at a press conference with French President Emmanuel Macron that the “tension in the Red Sea has negatively impacted” Egypt’s revenues from the Suez Canal, resulting in a loss of $7 billion in 2024.
The Houthi rebel attacks on ships in the Red Sea have led to a decline in maritime traffic through the Red Sea and the Suez Canal, which in turn caused a drop in Egypt’s income, as the country charges fees for passage through the canal.
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