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Red Sea conflict hits Egypt, other parts of the region

Red Sea Conflict Hits Egypt, Other Parts of the Region

cairo  Egypt's economy is facing serious hurdles after revenue from the country's most strategic asset the Suez Canal has dropped by nearly half. Attacks by the pro-Iranian Houthi militia group on ships passing by Yemen has made merchant ships avoid the Red Sea and the canal. The Greek-flagged grain ship Sea Champion was slightly damaged Wednesday by two ballistic missiles fired by the northern Yemen-based Houthi group, which says it is attacking Western ships in solidarity with Hamas militants fighting Israel. Because of such attacks, many ships that normally pass by Yemen, headed to or from the Suez Canal, now avoid the area and take the longer route around the Horn of Africa. That is cutting deeply into Egypt's revenue from ships passing through the canal and is just the latest challenge to the country's economy, Egyptian President Abdel Fatteh el-Sissi said. First, el-Sissi said, were the two years of the COVID-19 pandemic. Then the Russia-Ukraine conflict

Red Sea Conflict Hits Egypt, Other Parts of the Region - New Delhi Times - India s Only International Newspaper - Empowering Global Vision, Empathizing with India

Egypt's economy is facing serious hurdles after revenue from the country's most strategic asset the Suez Canal has dropped by nearly half. Attacks by the pro-Iranian Houthi militia group on ships passing by Yemen has made merchant ships avoid the Red Sea and the canal. The Greek-flagged grain ship Sea Champion was slightly…

Red Sea Conflict Hits Egypt, Other Parts of the Region

Red Sea Conflict Hits Egypt, Other Parts of the Region
voanews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from voanews.com Daily Mail and Mail on Sunday newspapers.

Red Sea Conflict Hits Egypt, Other Parts of the Region

Red Sea Conflict Hits Egypt, Other Parts of the Region
bignewsnetwork.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bignewsnetwork.com Daily Mail and Mail on Sunday newspapers.

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