Red Sea crisis cuts Suez Canal revenue by over 60%, says Egypt

Red Sea crisis cuts Suez Canal revenue by over 60%, says Egypt

Suez Canal Authority Chairman Osama Rabie stated on Wednesday that the Red Sea crisis has not resulted in a sustainable route to replace the canal. He noted, “There were positive indicators for the return of stability in the region.” Since November 2023, Iran-backed Houthi militants have targeted vessels…

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